Allstate Corp Purchases Shares of 9,237 CMS Energy Co. (NYSE:CMS)

Allstate Corp purchased a new position in shares of CMS Energy Co. (NYSE:CMS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,237 shares of the utilities provider's stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMS. BankPlus Trust Department purchased a new stake in CMS Energy in the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. raised its holdings 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 worth $30,000 after acquiring an additional 235 shares in the last quarter. Larson Financial Group LLC boosted its position in CMS Energy by 2,900.0% during the fourth quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 696 shares during the last quarter. Robbins Farley purchased a new position in CMS Energy in the fourth quarter valued at about $62,000. Finally, Catalyst Capital Advisors LLC acquired a new position in CMS Energy in the 4th quarter worth about $73,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CMS shares. Bank of America lifted their price target on CMS Energy from $73.00 to $80.00 and gave the company a "buy" rating in a report on Monday, March 24th. Barclays raised shares of CMS Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $68.00 to $75.00 in a research report on Thursday, February 20th. StockNews.com lowered shares of CMS Energy from a "hold" rating to a "sell" rating in a research note on Wednesday. Guggenheim reissued a "neutral" rating and set a $69.00 target price on shares of CMS Energy in a research report on Friday, February 7th. Finally, BMO Capital Markets upped their price target on CMS Energy from $73.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $75.36.

Remove Ads

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $73.77, for a total transaction of $147,540.00. Following the sale, the senior vice president now owns 71,931 shares of the company's stock, valued at approximately $5,306,349.87. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Wright sold 2,500 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $69.84, for a total value of $174,600.00. Following the completion of the transaction, the director now owns 38,790 shares of the company's stock, valued at $2,709,093.60. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,200 shares of company stock worth $789,532. 0.40% of the stock is currently owned by company insiders.

CMS Energy Stock Performance

Shares of NYSE CMS traded down $2.70 during trading hours on Friday, hitting $72.81. 4,394,563 shares of the company's stock were exchanged, compared to its average volume of 2,237,564. The company's 50-day moving average price is $71.24 and its 200-day moving average price is $69.43. CMS Energy Co. has a 1-year low of $56.61 and a 1-year high of $76.45. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.56 and a beta of 0.34. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.87 EPS for the quarter, topping 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%. On average, sell-side analysts expect that CMS Energy Co. will post 3.59 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.98%. This is a positive change from CMS Energy's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 14th. CMS Energy's dividend payout ratio (DPR) is currently 65.36%.

CMS Energy Company 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.