49,092 CMS Energy Corporation $CMS Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. decreased its position in CMS Energy Corporation (NYSE:CMS) by 12.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 356,564 shares of the utilities provider’s stock after selling 49,092 shares during the period. CMS Energy makes up about 1.1% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. Cidel Asset Management Inc.’s holdings in CMS Energy were worth $22,492,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CMS. Kilter Group LLC acquired a new stake in CMS Energy in the 2nd quarter valued at about $26,000. Independence Bank of Kentucky bought a new position in shares of CMS Energy during the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of CMS Energy in the 3rd quarter worth approximately $30,000. Scarborough Advisors LLC bought a new stake in shares of CMS Energy in the 1st quarter worth approximately $31,000. Finally, Trust Co. of Vermont bought a new stake in shares of CMS Energy in the 2nd quarter worth approximately $33,000. Institutional investors own 93.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMS. Wells Fargo & Company cut their target price on shares of CMS Energy from $79.00 to $73.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group reaffirmed a “neutral” rating and issued a $84.00 price target on shares of CMS Energy in a report on Wednesday, July 29th. Barclays cut their price objective on CMS Energy from $81.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Mizuho decreased their target price on CMS Energy from $78.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, Truist Financial cut their target price on CMS Energy from $81.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.35.

CMS Energy Stock Performance

Shares of CMS opened at $70.12 on Friday. CMS Energy Corporation has a one year low of $62.28 and a one year high of $80.36. The company has a 50-day moving average of $66.77 and a two-hundred day moving average of $72.53. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.56 and a beta of 0.32. 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 released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share (EPS) 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 business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that CMS Energy Corporation will post 3.87 earnings per share for the current year.

CMS Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy’s payout ratio is presently 81.43%.

About CMS Energy

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.