Alpha Quant Advisors LLC purchased a new stake in shares of CMS Energy Co. (NYSE:CMS) in the first quarter, HoldingsChannel reports. The institutional investor purchased 4,307 shares of the utilities provider’s stock, valued at approximately $240,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC bought a new position in CMS Energy during the 4th quarter valued at approximately $25,000. Clean Yield Group purchased a new position in shares of CMS Energy during the 4th quarter worth approximately $27,000. Cranbrook Wealth Management LLC purchased a new position in shares of CMS Energy during the 4th quarter worth approximately $30,000. Blue Sky Asset Management LLC purchased a new position in shares of CMS Energy during the 1st quarter worth approximately $38,000. Finally, Pinnacle Bank purchased a new position in shares of CMS Energy during the 4th quarter worth approximately $48,000. 92.85% of the stock is owned by institutional investors and hedge funds.
CMS Energy stock opened at $56.35 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.92 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $16.02 billion, a P/E ratio of 24.18, a P/E/G ratio of 3.55 and a beta of 0.18. CMS Energy Co. has a twelve month low of $42.52 and a twelve month high of $57.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 3rd will be paid a $0.3825 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $1.53 annualized dividend and a dividend yield of 2.72%. CMS Energy’s payout ratio is currently 65.67%.
A number of research analysts have weighed in on CMS shares. Zacks Investment Research downgraded CMS Energy from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Argus upped their target price on CMS Energy from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 22nd. SunTrust Banks reiterated a “hold” rating and set a $56.00 target price on shares of CMS Energy in a report on Monday, February 25th. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, April 11th. Finally, Credit Suisse Group set a $58.00 target price on CMS Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $55.31.
In related news, SVP Catherine M. Reynolds sold 6,203 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $54.63, for a total value of $338,869.89. Following the sale, the senior vice president now owns 121,211 shares in the company, valued at approximately $6,621,756.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Russell sold 16,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $55.35, for a total value of $929,880.00. Following the completion of the sale, the director now owns 299,196 shares in the company, valued at approximately $16,560,498.60. The disclosure for this sale can be found here. Insiders sold a total of 31,503 shares of company stock worth $1,735,825 in the last 90 days. 0.52% of the stock is currently owned by company insiders.
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About CMS Energy
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.
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