abrdn plc Sells 189,109 Shares of CMS Energy Co. (NYSE:CMS)

abrdn plc lowered its position in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 968,101 shares of the utilities provider's stock after selling 189,109 shares during the quarter. abrdn plc owned 0.32% of CMS Energy worth $68,343,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider's stock valued at $410,223,000 after acquiring an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider's stock worth $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Raymond James & Associates raised its holdings in CMS Energy by 310.2% during the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider's stock worth $79,519,000 after buying an additional 851,364 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in CMS Energy by 105.9% during the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider's stock worth $92,623,000 after acquiring an additional 800,344 shares during the last quarter. Finally, Railway Pension Investments Ltd purchased a new position in shares of CMS Energy in the 2nd quarter worth about $47,082,000. Institutional investors own 93.57% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CMS. Barclays lifted their target price on CMS Energy from $65.00 to $68.00 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. KeyCorp boosted their price target on shares of CMS Energy from $73.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Scotiabank lifted their price objective on CMS Energy from $66.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. Bank of America boosted their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Finally, Evercore ISI raised CMS Energy to a "hold" rating in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.85.

CMS Energy Stock Performance

Shares of CMS stock traded up $0.59 on Wednesday, hitting $70.11. 1,966,514 shares of the stock traded hands, compared to its average volume of 2,254,243. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The company's fifty day moving average is $69.73 and its 200 day moving average is $64.51. CMS Energy Co. has a 1-year low of $53.64 and a 1-year high of $72.40. The company has a market capitalization of $20.94 billion, a PE ratio of 21.38, a PEG ratio of 2.77 and a beta of 0.41.

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from CMS Energy's previous quarterly dividend of $0.51. CMS Energy's dividend payout ratio is 62.80%.

About CMS Energy

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.