Verition Fund Management LLC lowered its stake in CMS Energy Co. (NYSE:CMS – Free Report) by 31.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,335 shares of the utilities provider’s stock after selling 48,489 shares during the quarter. Verition Fund Management LLC’s holdings in CMS Energy were worth $7,299,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in CMS. First Horizon Advisors Inc. increased its holdings in CMS Energy by 171.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 275 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of CMS Energy in the third quarter worth $40,000. TruNorth Capital Management LLC raised its position in shares of CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the period. Innealta Capital LLC purchased a new position in shares of CMS Energy during the 2nd quarter valued at $43,000. Finally, Covestor Ltd boosted its holdings in CMS Energy by 206.1% in the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after buying an additional 472 shares during the period. Institutional investors own 93.57% of the company’s stock.
CMS Energy Stock Performance
Shares of NYSE:CMS opened at $69.71 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The firm’s 50-day moving average is $69.74 and its 200 day moving average is $65.78. CMS Energy Co. has a 12 month low of $55.10 and a 12 month high of $72.40. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.78 and a beta of 0.41.
CMS Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Wednesday, November 13th. CMS Energy’s dividend payout ratio is currently 58.86%.
Analyst Ratings Changes
CMS has been the topic of several research analyst reports. Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. KeyCorp upped their price target on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Scotiabank lifted their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America upped their target price on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays lifted their price target on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, CMS Energy has an average rating of “Moderate Buy” and an average target price of $70.21.
Check Out Our Latest Stock Analysis on CMS Energy
Insider Transactions at CMS Energy
In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the transaction, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Scott B. Mcintosh sold 936 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the completion of the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
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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