Summit Global Investments Purchases New Shares in CMS Energy Co. (NYSE:CMS)

Summit Global Investments bought a new position in CMS Energy Co. (NYSE:CMS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 232,648 shares of the utilities provider’s stock, valued at approximately $15,506,000. CMS Energy comprises about 1.0% of Summit Global Investments’ portfolio, making the stock its 15th largest position. Summit Global Investments owned 0.08% of CMS Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the stock. Smith Group Asset Management LLC bought a new position in CMS Energy in the fourth quarter valued at about $333,000. Massachusetts Financial Services Co. MA lifted its position in CMS Energy by 10.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after purchasing an additional 719,093 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of CMS Energy by 39.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 20,133 shares of the utilities provider’s stock valued at $1,342,000 after purchasing an additional 5,662 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of CMS Energy by 49.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 26,808 shares of the utilities provider’s stock worth $1,787,000 after buying an additional 8,927 shares during the period. Finally, Hennessy Advisors Inc. raised its stake in shares of CMS Energy by 2.7% during the fourth quarter. Hennessy Advisors Inc. now owns 170,698 shares of the utilities provider’s stock worth $11,377,000 after buying an additional 4,500 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Scott B. Mcintosh sold 6,700 shares of CMS Energy stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $69.76, for a total transaction of $467,392.00. Following the completion of the transaction, the chief accounting officer now owns 21,643 shares in the company, valued at approximately $1,509,815.68. This trade represents a 23.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $73.77, for a total value of $147,540.00. Following the completion of the sale, the senior vice president now owns 71,931 shares in the company, valued at $5,306,349.87. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,200 shares of company stock valued at $789,532 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMS shares. Morgan Stanley reduced their price objective on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Scotiabank raised their price target on CMS Energy from $75.00 to $77.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Barclays upgraded CMS Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $75.00 in a report on Thursday, February 20th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $69.00 price target on shares of CMS Energy in a research note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, CMS Energy has an average rating of “Moderate Buy” and an average price target of $74.36.

CMS Energy Stock Performance

CMS opened at $73.49 on Friday. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.56 and a beta of 0.35. The business’s 50-day moving average price is $69.81 and its two-hundred day moving average price is $69.11. CMS Energy Co. has a 1 year low of $56.61 and a 1 year high of $75.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.79 and a quick ratio of 0.57.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, February 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a return on equity of 12.02% and a net margin of 13.35%. Equities analysts expect that CMS Energy Co. will post 3.59 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were paid a $0.5425 dividend. This is a positive change from CMS Energy’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, February 14th. CMS Energy’s payout ratio is presently 65.36%.

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.