Summit Trail Advisors LLC Has $463,000 Position in CMS Energy Co. (NYSE:CMS)

Summit Trail Advisors LLC lifted its holdings in shares of CMS Energy Co. (NYSE:CMS) by 83.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,551 shares of the utilities provider’s stock after buying an additional 2,976 shares during the period. Summit Trail Advisors LLC’s holdings in CMS Energy were worth $463,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in CMS Energy by 171.9% during the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 275 shares during the last quarter. Covestor Ltd raised its stake in shares of CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 472 shares in the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares during the last quarter. Innealta Capital LLC bought a new position in shares of CMS Energy in the second quarter valued at $43,000. Finally, Values First Advisors Inc. acquired a new position in CMS Energy during the third quarter worth $56,000. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Up 1.1 %

CMS stock opened at $70.42 on Wednesday. The business’s fifty day moving average price is $69.70 and its two-hundred day moving average price is $65.62. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.77 and a beta of 0.41. CMS Energy Co. has a fifty-two week low of $55.10 and a fifty-two week high of $72.40. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83.

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

CMS Energy Increases Dividend

The business also recently declared 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 2.93%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 58.86%.

Insiders Place Their Bets

In other news, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $68.50, for a total value of $64,116.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,417 shares in the company, valued at approximately $1,672,564.50. The trade was a 3.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at $4,415,439.07. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CMS shares. Bank of America increased their price target on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Barclays boosted their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Scotiabank upped their price objective on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.21.

CMS Energy Company Profile

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.