CMS Energy Corporation $CMS Stock: Sumitomo Mitsui Trust Group Inc. Cuts Position

Sumitomo Mitsui Trust Group Inc. lowered its position in CMS Energy Corporation (NYSE:CMS) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 702,418 shares of the utilities provider’s stock after selling 12,988 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CMS Energy were worth $44,309,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. VestGen Advisors LLC boosted its position in shares of CMS Energy by 4.9% in the third quarter. VestGen Advisors LLC now owns 3,653 shares of the utilities provider’s stock valued at $230,000 after acquiring an additional 170 shares during the period. Lido Advisors LLC boosted its holdings in CMS Energy by 1.0% in the first quarter. Lido Advisors LLC now owns 18,123 shares of the utilities provider’s stock valued at $1,406,000 after acquiring an additional 174 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of CMS Energy by 0.7% during the 1st quarter. NewEdge Advisors LLC now owns 26,328 shares of the utilities provider’s stock valued at $2,043,000 after acquiring an additional 174 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in CMS Energy by 5.5% during the 1st quarter. Kera Capital Partners Inc. now owns 3,934 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 206 shares during the last quarter. Finally, CX Institutional raised its position in shares of CMS Energy by 6.7% during the third quarter. CX Institutional now owns 4,146 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $70.91 on Thursday. The company’s fifty day moving average price is $66.89 and its 200-day moving average price is $72.52. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.56 and a beta of 0.31. CMS Energy Corporation has a one year low of $62.28 and a one year high of $80.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.23 billion. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that CMS Energy Corporation will post 3.87 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders 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 dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy’s dividend payout ratio is presently 81.43%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $84.00 target price on shares of CMS Energy in a research note on Wednesday, July 29th. Scotiabank reaffirmed a “sector outperform” rating and set a $78.00 price target on shares of CMS Energy in a report on Thursday, October 1st. Weiss Ratings downgraded CMS Energy from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Jefferies Financial Group reduced their price objective on shares of CMS Energy from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Tuesday, September 15th. Finally, Truist Financial reduced their price objective on CMS Energy from $81.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, CMS Energy has a consensus rating of “Hold” and an average price target of $77.35.

CMS Energy Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.