Sumitomo Mitsui Trust Group Inc. Buys 9,614 Shares of CMS Energy Co. (NYSE:CMS)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of CMS Energy Co. (NYSE:CMS) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 722,688 shares of the utilities provider’s stock after acquiring an additional 9,614 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of CMS Energy worth $51,043,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after purchasing an additional 2,786,071 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after purchasing an additional 3,473,977 shares during the period. iA Global Asset Management Inc. boosted its stake in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in CMS Energy by 46.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock worth $79,275,000 after purchasing an additional 421,059 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in CMS Energy by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider’s stock worth $76,292,000 after purchasing an additional 233,633 shares during the period. 93.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company upped their price target on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. KeyCorp upped their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI raised CMS Energy to a “hold” rating in a report on Friday, July 26th. Barclays increased their price target on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.29.

CMS Energy Price Performance

CMS opened at $68.23 on Friday. CMS Energy Co. has a 12-month low of $55.10 and a 12-month high of $72.40. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The business’s fifty day simple moving average is $69.77 and its 200-day simple moving average is $65.16. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.70 and a beta of 0.41.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is presently 58.86%.

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.