Chemical Bank reduced its stake in CMS Energy Co. (NYSE:CMS) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,334 shares of the utilities provider’s stock after selling 1,216 shares during the period. Chemical Bank’s holdings in CMS Energy were worth $347,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Zions Bancorporation increased its stake in CMS Energy by 8,255.2% in the third quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 2,394 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of CMS Energy during the fourth quarter worth approximately $122,000. Tower Research Capital LLC TRC grew its position in shares of CMS Energy by 271.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 1,998 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of CMS Energy during the fourth quarter worth approximately $213,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of CMS Energy during the third quarter worth approximately $216,000. Institutional investors own 88.29% of the company’s stock.
Shares of CMS Energy stock opened at $43.25 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 2.06. CMS Energy Co. has a fifty-two week low of $40.48 and a fifty-two week high of $50.85. The firm has a market capitalization of $12,412.38, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.98 and a beta of 0.14.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 16th were issued a dividend of $0.3575 per share. The ex-dividend date was Thursday, February 15th. This is an increase from CMS Energy’s previous quarterly dividend of $0.33. This represents a $1.43 annualized dividend and a dividend yield of 3.31%. CMS Energy’s dividend payout ratio (DPR) is currently 87.20%.
In related news, SVP Catherine M. Reynolds sold 8,310 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.40, for a total transaction of $360,654.00. Following the completion of the sale, the senior vice president now directly owns 126,810 shares of the company’s stock, valued at $5,503,554. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by company insiders.
CMS has been the topic of a number of research reports. KeyCorp restated a “buy” rating and set a $51.50 target price on shares of CMS Energy in a research report on Friday, December 15th. Hilliard Lyons upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, February 15th. Bank of America restated a “buy” rating and set a $49.00 target price (up from $48.00) on shares of CMS Energy in a research report on Monday, February 26th. Zacks Investment Research upgraded shares of CMS Energy from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, March 20th. Finally, TheStreet lowered shares of CMS Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 14th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $48.50.
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CMS Energy Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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