First Citizens Bank & Trust Co. Boosts Position in CMS Energy Co. (NYSE:CMS)

First Citizens Bank & Trust Co. grew its stake in CMS Energy Co. (NYSE:CMS) by 3.3% during the second quarter, HoldingsChannel reports. The fund owned 59,814 shares of the utilities provider’s stock after acquiring an additional 1,892 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CMS Energy were worth $3,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new position in shares of CMS Energy in the 4th quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in CMS Energy in the 4th quarter valued at about $36,000. TruNorth Capital Management LLC grew its stake in shares of CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares during the period. Headlands Technologies LLC acquired a new position in shares of CMS Energy in the 1st quarter valued at $43,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CMS Energy by 30.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Up 0.8 %

Shares of CMS stock traded up $0.50 during trading hours on Tuesday, hitting $67.03. 265,611 shares of the company were exchanged, compared to its average volume of 2,338,710. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 2.64 and a beta of 0.38. CMS Energy Co. has a one year low of $49.87 and a one year high of $67.77. The business’s 50-day simple moving average is $61.90 and its two-hundred day simple moving average is $60.39.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Sell-side analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the transaction, the senior vice president now directly owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at approximately $4,098,433.40. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CMS has been the topic of several analyst reports. BMO Capital Markets raised their target price on shares of CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Guggenheim lifted their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays boosted their price target on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Morgan Stanley dropped their price target on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.36.

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.