CMS Energy Co. (CMS) Stake Increased by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD grew its holdings in CMS Energy Co. (NYSE:CMS) by 1.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 118,529 shares of the utilities provider’s stock after acquiring an additional 1,739 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in CMS Energy were worth $6,583,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in shares of CMS Energy by 0.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 45,700 shares of the utilities provider’s stock valued at $2,269,000 after buying an additional 196 shares in the last quarter. Sigma Planning Corp increased its position in shares of CMS Energy by 1.5% during the first quarter. Sigma Planning Corp now owns 13,465 shares of the utilities provider’s stock worth $748,000 after purchasing an additional 197 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of CMS Energy by 1.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 13,021 shares of the utilities provider’s stock worth $646,000 after purchasing an additional 214 shares in the last quarter. Redpoint Investment Management Pty Ltd increased its position in shares of CMS Energy by 0.4% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 50,705 shares of the utilities provider’s stock worth $2,518,000 after purchasing an additional 218 shares in the last quarter. Finally, Clarius Group LLC increased its position in shares of CMS Energy by 3.8% during the fourth quarter. Clarius Group LLC now owns 5,965 shares of the utilities provider’s stock worth $296,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.

In other news, VP Glenn P. Barba sold 8,500 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $54.95, for a total value of $467,075.00. Following the transaction, the vice president now owns 28,555 shares of the company’s stock, valued at approximately $1,569,097.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John G. Russell sold 16,800 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $55.35, for a total value of $929,880.00. Following the completion of the transaction, the director now directly owns 299,196 shares in the company, valued at approximately $16,560,498.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,503 shares of company stock worth $1,735,825. Corporate insiders own 0.52% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research cut CMS Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Credit Suisse Group set a $58.00 price target on CMS Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Argus boosted their price target on CMS Energy from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, February 22nd. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, April 11th. Finally, Goldman Sachs Group assumed coverage on CMS Energy in a research report on Wednesday, January 16th. They set a “neutral” rating and a $52.00 price target for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. CMS Energy has a consensus rating of “Buy” and a consensus price target of $54.77.

NYSE CMS traded up $0.50 on Thursday, reaching $56.35. 177,444 shares of the company were exchanged, compared to its average volume of 2,248,048. The firm has a market capitalization of $16.02 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 3.54 and a beta of 0.18. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.92 and a current ratio of 1.13. CMS Energy Co. has a fifty-two week low of $42.52 and a fifty-two week high of $56.54.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.96 billion. CMS Energy had a return on equity of 13.16% and a net margin of 9.01%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, sell-side analysts forecast that CMS Energy Co. will post 2.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a dividend of $0.3825 per share. This represents a $1.53 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 2nd. CMS Energy’s dividend payout ratio (DPR) is currently 65.67%.

ILLEGAL ACTIVITY WARNING: This story was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.wkrb13.com/2019/05/16/cms-energy-co-cms-stake-increased-by-sumitomo-mitsui-asset-management-company-ltd.html.

CMS Energy Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.

Featured Article: What are popular range trading strategies?

Want to see what other hedge funds are holding CMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CMS Energy Co. (NYSE:CMS).

Institutional Ownership by Quarter for CMS Energy (NYSE:CMS)

Receive News & Ratings for CMS Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CMS Energy and related companies with MarketBeat.com's FREE daily email newsletter.