abrdn plc Boosts Holdings in CMS Energy Co. (NYSE:CMS)

abrdn plc grew its holdings in shares of CMS Energy Co. (NYSE:CMS) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 980,651 shares of the utilities provider’s stock after buying an additional 12,550 shares during the period. abrdn plc’s holdings in CMS Energy were worth $65,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 275 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of CMS Energy by 106.8% during the fourth quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after buying an additional 235 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of CMS Energy in the third quarter worth about $40,000. Covestor Ltd raised its holdings 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 acquiring an additional 472 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in CMS Energy during the third quarter valued at $56,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of CMS Energy from $75.00 to $77.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Guggenheim lowered shares of CMS Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley lowered their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group initiated coverage on CMS Energy in a research note on Tuesday, November 5th. They set a “buy” rating and a $76.00 price target on the stock. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.00.

Insider Activity

In other news, Director John G. Russell sold 28,750 shares of CMS Energy stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the transaction, the director now directly owns 144,059 shares of the company’s stock, valued at approximately $9,486,285.15. The trade was a 16.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Scott B. Mcintosh sold 936 shares of CMS Energy stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $68.50, for a total transaction of $64,116.00. Following the completion of the sale, the chief accounting officer now owns 24,417 shares in the company, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,686 shares of company stock valued at $2,228,084 over the last quarter. Company insiders own 0.53% of the company’s stock.

CMS Energy Stock Down 0.4 %

CMS stock opened at $66.18 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. The company’s 50 day simple moving average is $66.99 and its 200-day simple moving average is $67.76. The firm has a market capitalization of $19.78 billion, a PE ratio of 18.91, a P/E/G ratio of 2.39 and a beta of 0.42. CMS Energy Co. has a 12 month low of $55.10 and a 12 month high of $72.40.

CMS Energy 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.