Northern Trust Corp increased its position in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,986,489 shares of the utilities provider's stock after purchasing an additional 311,489 shares during the period. Northern Trust Corp owned approximately 1.00% of CMS Energy worth $199,049,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in CMS Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 38,175,088 shares of the utilities provider's stock worth $2,544,370,000 after purchasing an additional 316,011 shares during the period. Price T Rowe Associates Inc. MD boosted its position in CMS Energy by 32.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider's stock valued at $950,227,000 after buying an additional 3,486,074 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of CMS Energy by 28.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,741,389 shares of the utilities provider's stock worth $649,264,000 after acquiring an additional 2,131,269 shares during the period. Geode Capital Management LLC raised its stake in shares of CMS Energy by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,608,680 shares of the utilities provider's stock valued at $505,869,000 after acquiring an additional 98,910 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of CMS Energy in the fourth quarter valued at approximately $171,798,000. 93.57% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on CMS shares. Jefferies Financial Group lifted their price objective on CMS Energy from $77.00 to $83.00 and gave the company a "buy" rating in a report on Monday, April 21st. UBS Group increased their target price on CMS Energy from $77.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. 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 report on Friday, April 25th. Bank of America lifted their target price on CMS Energy from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, March 24th. Finally, Scotiabank reissued an "outperform" rating and set a $81.00 price target (up from $77.00) on shares of CMS Energy in a research report on Friday, April 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CMS Energy has an average rating of "Moderate Buy" and a consensus price target of $77.25.
Read Our Latest Report on CMS
CMS Energy Price Performance
Shares of CMS Energy stock traded up $0.60 on Wednesday, reaching $73.97. The company's stock had a trading volume of 502,228 shares, compared to its average volume of 2,576,984. The company has a market capitalization of $22.13 billion, a P/E ratio of 22.28, a PEG ratio of 2.56 and a beta of 0.42. The stock has a 50-day moving average price of $72.91 and a 200-day moving average price of $69.81. The company has a quick ratio of 0.57, a current ratio of 0.79 and a debt-to-equity ratio of 1.80. CMS Energy Co. has a 52-week low of $58.50 and a 52-week high of $76.45.
CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.03). The firm had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.32 billion. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. The company's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 EPS. Analysts expect that CMS Energy Co. will post 3.59 EPS for the current year.
CMS Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 9th will be given a $0.5425 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.17 dividend on an annualized basis and a yield of 2.93%. CMS Energy's payout ratio is currently 64.39%.
Insiders Place Their Bets
In other CMS Energy news, CAO Scott B. Mcintosh sold 6,700 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $69.76, for a total transaction of $467,392.00. Following the sale, the chief accounting officer now directly owns 21,643 shares in the company, valued at $1,509,815.68. This represents a 23.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Wright sold 2,500 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $69.84, for a total transaction of $174,600.00. Following the completion of the transaction, the director now owns 38,790 shares of the company's stock, valued at approximately $2,709,093.60. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock valued at $789,532 over the last 90 days. 0.40% of the stock is owned by company insiders.
About CMS Energy
(
Free Report)
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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