Summit Global Investments Trims Position in CMS Energy Co. (NYSE:CMS)

Summit Global Investments decreased its stake in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,496 shares of the utilities provider's stock after selling 37,152 shares during the quarter. CMS Energy comprises about 1.1% of Summit Global Investments' investment portfolio, making the stock its 12th biggest holding. Summit Global Investments owned about 0.07% of CMS Energy worth $14,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of CMS. Exchange Traded Concepts LLC raised its position in shares of CMS Energy by 2.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 12,401 shares of the utilities provider's stock worth $827,000 after purchasing an additional 345 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in CMS Energy in the fourth quarter worth about $212,000. Blue Trust Inc. raised its holdings in CMS Energy by 52.6% in the fourth quarter. Blue Trust Inc. now owns 9,371 shares of the utilities provider's stock worth $662,000 after buying an additional 3,231 shares during the last quarter. KBC Group NV raised its holdings in CMS Energy by 23.4% in the fourth quarter. KBC Group NV now owns 25,342 shares of the utilities provider's stock worth $1,689,000 after buying an additional 4,806 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in CMS Energy in the 4th quarter worth approximately $333,000. Hedge funds and other institutional investors own 93.57% of the company's stock.

CMS Energy Stock Performance

CMS Energy stock traded up $0.78 during mid-day trading on Friday, reaching $70.33. 3,560,639 shares of the stock traded hands, compared to its average volume of 2,305,110. CMS Energy Co. has a 12-month low of $58.50 and a 12-month high of $76.45. The stock has a market capitalization of $21.04 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.79 and a quick ratio of 0.57. The business's 50-day moving average is $72.09 and its 200-day moving average is $69.95.

CMS Energy (NYSE:CMS - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.03). CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the previous year, the company earned $0.97 EPS. CMS Energy's revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that CMS Energy Co. will post 3.59 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 9th were issued a dividend of $0.5425 per share. The ex-dividend date was Friday, May 9th. This represents a $2.17 dividend on an annualized basis and a yield of 3.09%. CMS Energy's dividend payout ratio is currently 64.39%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CMS shares. Scotiabank restated an "outperform" rating and issued a $81.00 price objective (up from $77.00) on shares of CMS Energy in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on CMS Energy from $78.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Bank of America boosted their price target on CMS Energy from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, March 24th. UBS Group boosted their target price on CMS Energy from $77.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Jefferies Financial Group boosted their target price on CMS Energy from $77.00 to $83.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CMS Energy presently has a consensus rating of "Hold" and a consensus target price of $77.00.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,198 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total value of $161,794.78. Following the completion of the sale, the senior vice president now owns 69,571 shares in the company, valued at $5,121,121.31. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.