Summit Financial LLC Sells 505 Shares of CMS Energy Co. (NYSE:CMS)

Summit Financial LLC reduced its holdings in shares of CMS Energy Co. (NYSE:CMS) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,184 shares of the utilities provider’s stock after selling 505 shares during the period. Summit Financial LLC’s holdings in CMS Energy were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CMS. Victory Capital Management Inc. raised its position in shares of CMS Energy by 0.5% during the fourth quarter. Victory Capital Management Inc. now owns 499,985 shares of the utilities provider’s stock valued at $29,034,000 after buying an additional 2,578 shares during the last quarter. Beck Bode LLC lifted its stake in CMS Energy by 16.4% in the 4th quarter. Beck Bode LLC now owns 14,412 shares of the utilities provider’s stock worth $837,000 after purchasing an additional 2,031 shares in the last quarter. Mather Group LLC. bought a new position in shares of CMS Energy during the 4th quarter valued at about $244,000. Blue Chip Partners LLC bought a new position in shares of CMS Energy during the 4th quarter valued at about $104,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of CMS Energy by 15.6% in the fourth quarter. Russell Investments Group Ltd. now owns 357,536 shares of the utilities provider’s stock worth $20,761,000 after purchasing an additional 48,265 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMS. Barclays raised their price target on CMS Energy from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday. Seaport Res Ptn downgraded shares of CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. Wolfe Research upgraded CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. upped their price objective on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the transaction, the senior vice president now owns 97,682 shares in the company, valued at approximately $5,968,370.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now directly owns 97,682 shares of the company’s stock, valued at approximately $5,968,370.20. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

CMS Energy Stock Up 0.7 %

Shares of NYSE CMS opened at $61.27 on Friday. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $63.76. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.48 and a beta of 0.37. The stock has a 50 day moving average price of $59.03 and a 200 day moving average price of $57.62. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.05 and a current ratio of 1.35.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s payout ratio is currently 62.80%.

About CMS Energy

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.