CMS Energy Corporation $CMS Stock Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its position in CMS Energy Corporation (NYSE:CMS) by 19.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 103,782 shares of the utilities provider’s stock after selling 24,826 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CMS Energy were worth $6,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CMS. Avion Wealth increased its stake in shares of CMS Energy by 139.3% in the third quarter. Avion Wealth now owns 390 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 227 shares during the period. Kilter Group LLC bought a new position in CMS Energy in the 2nd quarter worth approximately $26,000. Independence Bank of Kentucky bought a new position in CMS Energy in the 3rd quarter worth approximately $27,000. Pension & Wealth Management Advisors Inc. bought a new position in CMS Energy in the 3rd quarter worth approximately $30,000. Finally, Scarborough Advisors LLC acquired a new stake in CMS Energy in the 1st quarter valued at approximately $31,000. 93.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMS has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on CMS Energy from $79.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. HSBC started coverage on CMS Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $69.00 price target on the stock. UBS Group restated a “neutral” rating and set a $84.00 price objective on shares of CMS Energy in a research note on Wednesday, July 29th. Scotiabank reaffirmed a “sector outperform” rating and issued a $78.00 price objective on shares of CMS Energy in a report on Thursday, October 1st. Finally, Truist Financial decreased their target price on shares of CMS Energy from $81.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $77.35.

CMS Energy Price Performance

NYSE:CMS opened at $69.22 on Friday. The business’s 50-day moving average price is $67.05 and its 200 day moving average price is $72.47. The firm has a market cap of $21.71 billion, a P/E ratio of 24.72, a PEG ratio of 2.54 and a beta of 0.31. CMS Energy Corporation has a 52-week low of $62.28 and a 52-week high of $80.36. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 1.88.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company earned $0.93 EPS. CMS Energy’s revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that CMS Energy Corporation will post 3.87 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy’s dividend payout ratio (DPR) is presently 81.43%.

About CMS Energy

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan’s Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula. Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region’s energy needs.