Corebridge Financial Inc. Has $4.72 Million Holdings in CMS Energy Co. (NYSE:CMS)

Corebridge Financial Inc. trimmed its stake in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,739 shares of the utilities provider's stock after selling 3,423 shares during the quarter. Corebridge Financial Inc.'s holdings in CMS Energy were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CMS. Vanguard Group Inc. increased its position in CMS Energy by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 38,175,088 shares of the utilities provider's stock worth $2,544,370,000 after buying an additional 316,011 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of CMS Energy in the 4th quarter worth about $8,838,000. Sciencast Management LP increased its holdings in shares of CMS Energy by 17.2% in the 4th quarter. Sciencast Management LP now owns 24,229 shares of the utilities provider's stock worth $1,615,000 after acquiring an additional 3,561 shares during the period. Summit Global Investments bought a new stake in CMS Energy in the 4th quarter valued at about $15,506,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in CMS Energy by 9.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,200 shares of the utilities provider's stock valued at $213,000 after purchasing an additional 283 shares during the period. Institutional investors own 93.57% of the company's stock.

Insider Activity

In other news, Director Laura Wright sold 2,500 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $69.84, for a total value of $174,600.00. Following the completion of the sale, the director now owns 38,790 shares in the company, valued at $2,709,093.60. This represents a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Scott B. Mcintosh sold 6,700 shares of CMS Energy stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $69.76, for a total value of $467,392.00. Following the transaction, the chief accounting officer now owns 21,643 shares in the company, valued at $1,509,815.68. This represents a 23.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,200 shares of company stock valued at $789,532 over the last three months. Insiders own 0.40% of the company's stock.

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Analyst Ratings Changes

Several brokerages have commented on CMS. UBS Group raised their price target on shares of CMS Energy from $77.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Scotiabank lifted their target price on CMS Energy from $75.00 to $77.00 and gave the company a "sector outperform" rating in a research note on Thursday, December 12th. Bank of America increased their price target on CMS Energy from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, March 24th. BMO Capital Markets lifted their price objective on shares of CMS Energy from $73.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, March 24th. Finally, StockNews.com lowered shares of CMS Energy from a "hold" rating to a "sell" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $75.36.

CMS Energy Price 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 traded hands, compared to its average volume of 2,239,459. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.57 and a current ratio of 0.79. The company's fifty day simple moving average is $71.24 and its two-hundred day simple moving average is $69.44. CMS Energy Co. has a 52 week low of $56.61 and a 52 week high of $76.52. The company has a market cap of $21.76 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.56 and a beta of 0.35.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. As a group, equities analysts anticipate that CMS Energy Co. will post 3.59 EPS for the current fiscal year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.5425 per share. The ex-dividend date was Friday, February 14th. This is a positive change from CMS Energy's previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.98%. CMS Energy's payout ratio is 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.