CMS Energy Co. (NYSE:CMS) Stake Decreased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its holdings in CMS Energy Co. (NYSE:CMS) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,959 shares of the utilities provider’s stock after selling 6,688 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in CMS Energy were worth $2,752,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of CMS Energy by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 189,442 shares of the utilities provider’s stock valued at $13,380,000 after acquiring an additional 2,331 shares in the last quarter. Private Trust Co. NA boosted its stake in CMS Energy by 25.6% during the 3rd quarter. Private Trust Co. NA now owns 982 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 200 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of CMS Energy by 1.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock valued at $1,107,000 after purchasing an additional 200 shares during the period. DRW Securities LLC bought a new stake in shares of CMS Energy in the 3rd quarter worth $8,382,000. Finally, Prosperity Financial Group Inc. acquired a new stake in shares of CMS Energy in the third quarter valued at $220,000. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

CMS stock opened at $70.49 on Thursday. The firm has a 50 day simple moving average of $69.71 and a 200 day simple moving average of $65.65. CMS Energy Co. has a 52 week low of $55.10 and a 52 week high of $72.40. The stock has a market cap of $21.06 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.78 and a beta of 0.41. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23.

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

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.92%. CMS Energy’s dividend payout ratio (DPR) is 58.86%.

Insider Activity at CMS Energy

In other news, CAO Scott B. Mcintosh sold 936 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the transaction, the chief accounting officer now owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the transaction, the senior vice president now directly owns 64,771 shares in the company, valued at $4,415,439.07. The trade was a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMS. Scotiabank lifted their target price on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. KeyCorp boosted their target price on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. BMO Capital Markets decreased their price target on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group assumed coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, CMS Energy presently has an average rating of “Moderate Buy” and an average target price 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.