CMS Energy Co. (NYSE:CMS) Position Increased by Advisor Group Holdings Inc.
Advisor Group Holdings Inc. raised its stake in CMS Energy Co. (NYSE:CMS) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,371 shares of the utilities provider’s stock after buying an additional 1,572 shares during the period. Advisor Group Holdings Inc.’s holdings in CMS Energy were worth $2,650,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CMS. Marshall Wace LLP acquired a new position in shares of CMS Energy in the 1st quarter worth $137,000. Public Employees Retirement Association of Colorado increased its stake in CMS Energy by 1.5% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 36,785 shares of the utilities provider’s stock worth $2,161,000 after purchasing an additional 555 shares in the last quarter. Alps Advisors Inc. acquired a new stake in CMS Energy during the 1st quarter worth about $204,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in CMS Energy by 3.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,422 shares of the utilities provider’s stock valued at $3,609,000 after buying an additional 2,205 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in shares of CMS Energy by 41.3% in the first quarter. AE Wealth Management LLC now owns 9,243 shares of the utilities provider’s stock worth $543,000 after buying an additional 2,700 shares during the period. Institutional investors own 92.07% of the company’s stock.
Shares of NYSE:CMS opened at $61.11 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $17.58 billion, a PE ratio of 23.06, a P/E/G ratio of 3.31 and a beta of 0.14. CMS Energy Co. has a 1 year low of $46.03 and a 1 year high of $69.17. The firm has a fifty day moving average price of $61.55 and a 200 day moving average price of $59.63.
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 7th were given a dividend of $0.4075 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.63 dividend on an annualized basis and a yield of 2.67%. CMS Energy’s payout ratio is currently 65.46%.
In other CMS Energy news, SVP Jean-Francois Brossoit sold 780 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $63.00, for a total transaction of $49,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Catherine A. Hendrian sold 1,584 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $62.78, for a total transaction of $99,443.52. Following the sale, the senior vice president now owns 41,218 shares of the company’s stock, valued at $2,587,666.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,743 shares of company stock worth $538,927. Corporate insiders own 0.50% of the company’s stock.
CMS has been the subject of several research analyst reports. BMO Capital Markets assumed coverage on shares of CMS Energy in a research report on Thursday, July 9th. They issued an “outperform” rating and a $63.00 price target for the company. Citigroup increased their target price on CMS Energy from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Zacks Investment Research upgraded CMS Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Friday, July 24th. Seaport Global Securities initiated coverage on CMS Energy in a research note on Wednesday, May 20th. They issued a “buy” rating and a $61.50 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on CMS Energy from $70.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. CMS Energy currently has an average rating of “Buy” and a consensus target price of $63.27.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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