CMS Energy Co. (NYSE:CMS) Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its stake in CMS Energy Co. (NYSE:CMS) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,697 shares of the utilities provider’s stock after buying an additional 883 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CMS Energy were worth $4,287,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of CMS Energy by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares during the period. Massachusetts Financial Services Co. MA boosted its position in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after buying an additional 3,473,977 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of CMS Energy by 105.9% during the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after acquiring an additional 800,344 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of CMS Energy by 46.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock worth $79,275,000 after acquiring an additional 421,059 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of CMS Energy by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider’s stock valued at $76,292,000 after purchasing an additional 233,633 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMS has been the topic of a number of recent analyst reports. Guggenheim upped their target price on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $76.00 to $72.00 in a research report on Tuesday. Barclays raised their target price on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday. Bank of America raised their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, KeyCorp boosted their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Stock Performance

CMS Energy stock opened at $71.29 on Friday. CMS Energy Co. has a fifty-two week low of $52.12 and a fifty-two week high of $71.57. The firm’s 50 day simple moving average is $68.99 and its 200-day simple moving average is $63.79. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The company has a market cap of $21.29 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. As a group, equities research analysts predict that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

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.