BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in CMS Energy Co. (NYSE:CMS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in CMS Energy Co. (NYSE:CMS) by 12.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 49,836 shares of the utilities provider’s stock after selling 7,345 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CMS Energy were worth $3,520,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in CMS Energy by 79.9% in the second quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock valued at $43,569,000 after acquiring an additional 325,101 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of CMS Energy by 325.4% in the 1st quarter. Cetera Investment Advisers now owns 26,219 shares of the utilities provider’s stock worth $1,582,000 after purchasing an additional 20,056 shares during the period. Quest Partners LLC lifted its stake in CMS Energy by 130,804.3% in the second quarter. Quest Partners LLC now owns 30,108 shares of the utilities provider’s stock valued at $1,792,000 after purchasing an additional 30,085 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in CMS Energy by 992.4% during the third quarter. Mizuho Securities USA LLC now owns 251,525 shares of the utilities provider’s stock valued at $18,075,000 after purchasing an additional 228,501 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock worth $537,503,000 after buying an additional 719,093 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

Insider Activity at CMS Energy

In other news, 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 value of $64,116.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,417 shares in the company, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the transaction, the senior vice president now directly owns 64,771 shares in the company, valued at approximately $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

CMS has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price target on the stock. BMO Capital Markets cut their target price on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Scotiabank boosted their price target 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. StockNews.com downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Finally, Wells Fargo & Company boosted their target price on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CMS Energy currently has an average rating of “Moderate Buy” and an average price target of $70.21.

CMS Energy Price Performance

CMS Energy stock opened at $68.26 on Wednesday. The business has a 50-day simple moving average of $69.66 and a 200 day simple moving average of $65.85. CMS Energy Co. has a 52 week low of $55.10 and a 52 week high of $72.40. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.73 and a beta of 0.41. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $0.61 earnings per share. CMS Energy’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.515 per share. 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 dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, November 13th. CMS Energy’s payout ratio is currently 58.86%.

CMS Energy Company 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.