Truist Financial Corp Sells 43,496 Shares of CMS Energy Corporation $CMS

Key Points

• Truist Financial Corp reduced its stake in CMS Energy Corporation by 2.5%, selling 43,496 shares and now owns approximately 1.71 million shares valued at $118.76 million.
• Analysts have mixed opinions on CMS Energy, with Barclays raising the target price to $78.00 while Wall Street Zen downgraded the stock from a "hold" to a "sell."
• CMS Energy reported a quarterly earnings increase with earnings per share of $0.71, and has announced a quarterly dividend of $0.5425, reflecting a yield of 3.0%.

Truist Financial Corp reduced its stake in CMS Energy Corporation (NYSE:CMS - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,714,251 shares of the utilities provider's stock after selling 43,496 shares during the period. Truist Financial Corp owned approximately 0.57% of CMS Energy worth $118,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CMS. AlphaQuest LLC boosted its stake in CMS Energy by 285.5% in the 1st quarter. AlphaQuest LLC now owns 451 shares of the utilities provider's stock valued at $34,000 after buying an additional 334 shares in the last quarter. WPG Advisers LLC bought a new position in shares of CMS Energy during the first quarter valued at $47,000. Bernard Wealth Management Corp. acquired a new stake in shares of CMS Energy in the 1st quarter valued at $72,000. NBC Securities Inc. acquired a new stake in shares of CMS Energy in the 1st quarter valued at $75,000. Finally, Grove Bank & Trust grew its holdings in shares of CMS Energy by 167.3% in the 1st quarter. Grove Bank & Trust now owns 1,072 shares of the utilities provider's stock worth $81,000 after purchasing an additional 671 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMS has been the subject of several analyst reports. Wolfe Research reissued a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. Barclays boosted their target price on CMS Energy from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Wall Street Zen cut CMS Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Morgan Stanley reduced their price objective on CMS Energy from $73.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.36.

Insider Buying and Selling

In other CMS Energy news, SVP Lauren Y. Snyder sold 2,220 shares of CMS Energy stock in a transaction on Friday, September 5th. The shares were sold at an average price of $71.26, for a total transaction of $158,197.20. Following the completion of the sale, the senior vice president owned 13,512 shares of the company's stock, valued at approximately $962,865.12. The trade was a 14.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.62, for a total value of $147,240.00. Following the completion of the transaction, the senior vice president directly owned 68,036 shares in the company, valued at approximately $5,008,810.32. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

CMS Energy Trading Up 0.7%

Shares of CMS opened at $73.29 on Wednesday. The stock's fifty day simple moving average is $72.18 and its 200-day simple moving average is $71.66. The firm has a market capitalization of $21.94 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.39. CMS Energy Corporation has a 12-month low of $63.97 and a 12-month high of $76.45. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.93.

CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. CMS Energy had a return on equity of 12.07% and a net margin of 12.76%.The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business posted $0.66 EPS. The company's quarterly revenue was up 14.4% compared to the same quarter last year. CMS Energy has set its FY 2025 guidance at 3.540-3.600 EPS. As a group, research analysts predict that CMS Energy Corporation will post 3.59 earnings per share for the current year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 8th. CMS Energy's dividend payout ratio is currently 64.20%.

About CMS Energy

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.

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