abrdn plc Sells 2,036,269 Shares of CMS Energy Co. (NYSE:CMS)

abrdn plc cut its stake in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 64.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,108,011 shares of the utilities provider's stock after selling 2,036,269 shares during the quarter. abrdn plc owned 0.38% of CMS Energy worth $64,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CMS. CI Investments Inc. lifted its holdings in shares of CMS Energy by 3.0% in the 3rd quarter. CI Investments Inc. now owns 6,415 shares of the utilities provider's stock worth $341,000 after acquiring an additional 185 shares during the last quarter. Stratos Wealth Advisors LLC increased its stake in shares of CMS Energy by 2.4% in the third quarter. Stratos Wealth Advisors LLC now owns 8,187 shares of the utilities provider's stock worth $435,000 after buying an additional 192 shares during the period. Centerpoint Advisors LLC increased its stake in shares of CMS Energy by 25.0% in the third quarter. Centerpoint Advisors LLC now owns 1,000 shares of the utilities provider's stock worth $53,000 after buying an additional 200 shares during the period. Atria Investments Inc increased its stake in shares of CMS Energy by 0.6% in the third quarter. Atria Investments Inc now owns 37,933 shares of the utilities provider's stock worth $2,015,000 after buying an additional 227 shares during the period. Finally, IFM Investors Pty Ltd increased its stake in shares of CMS Energy by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 97,475 shares of the utilities provider's stock worth $5,660,000 after buying an additional 269 shares during the period. 93.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMS has been the topic of several analyst reports. Wolfe Research raised shares of CMS Energy from a "peer perform" rating to an "outperform" rating and set a $62.00 target price on the stock in a research note on Tuesday, January 16th. KeyCorp lifted their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price objective on shares of CMS Energy from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, April 17th. Finally, Scotiabank reduced their price objective on shares of CMS Energy from $67.00 to $66.00 and set a "sector outperform" rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

CMS Energy Stock Up 0.7 %

Shares of CMS stock traded up $0.45 during mid-day trading on Monday, reaching $60.00. 3,424,840 shares of the company's stock traded hands, compared to its average volume of 2,436,552. CMS Energy Co. has a 12 month low of $49.87 and a 12 month high of $63.76. The company has a market cap of $17.92 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The company's 50-day moving average price is $58.50 and its 200-day moving average price is $57.29.

CMS Energy (NYSE:CMS - Get Free Report) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The company's quarterly revenue was down 14.4% on a year-over-year basis. On average, equities analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.43%. CMS Energy's payout ratio is 68.44%.

CMS Energy 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.