Prudential Financial Inc. Raises Position in CMS Energy Co. (NYSE:CMS)

Prudential Financial Inc. increased its holdings in CMS Energy Co. (NYSE:CMS - Free Report) by 207.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,115,524 shares of the utilities provider's stock after buying an additional 753,182 shares during the period. Prudential Financial Inc. owned 0.37% of CMS Energy worth $74,350,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC boosted its holdings in shares of CMS Energy by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,459 shares of the utilities provider's stock worth $297,000 after acquiring an additional 173 shares during the period. Horizon Kinetics Asset Management LLC increased its position in shares of CMS Energy by 1.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider's stock valued at $1,107,000 after buying an additional 200 shares during the period. Private Trust Co. NA boosted its position in shares of CMS Energy by 25.6% in the third quarter. Private Trust Co. NA now owns 982 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 200 shares during the period. Mather Group LLC. increased its holdings in CMS Energy by 5.8% during the 4th quarter. Mather Group LLC. now owns 3,996 shares of the utilities provider's stock worth $266,000 after acquiring an additional 220 shares during the period. Finally, Signaturefd LLC grew its position in shares of CMS Energy by 4.9% during the 4th quarter. Signaturefd LLC now owns 4,752 shares of the utilities provider's stock valued at $317,000 after purchasing an additional 220 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

CMS has been the subject of several recent analyst reports. Scotiabank boosted their target price on CMS Energy from $75.00 to $77.00 and gave the stock a "sector outperform" rating in a research report on Thursday, December 12th. UBS Group boosted their price objective on CMS Energy from $77.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Guggenheim reaffirmed a "neutral" rating and issued a $69.00 target price on shares of CMS Energy in a research note on Friday, February 7th. StockNews.com raised shares of CMS Energy from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of CMS Energy from $73.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $75.36.

CMS Energy Trading Up 1.4 %

NYSE CMS traded up $1.03 during trading on Friday, hitting $74.18. 2,717,818 shares of the company's stock traded hands, compared to its average volume of 2,229,385. The stock has a fifty day moving average of $70.47 and a two-hundred day moving average of $69.27. CMS Energy Co. has a 12-month low of $56.61 and a 12-month high of $75.06. The firm has a market cap of $22.16 billion, a P/E ratio of 22.34, a PEG ratio of 2.56 and a beta of 0.35. 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 earnings results on Thursday, February 6th. The utilities provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. CMS Energy had a return on equity of 12.02% and a net margin of 13.35%. As a group, sell-side analysts expect that CMS Energy Co. will post 3.59 EPS for the current year.

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Friday, February 14th. This is a positive change from CMS Energy's previous quarterly dividend of $0.52. CMS Energy's dividend payout ratio (DPR) is 65.36%.

Insider Buying and Selling at CMS Energy

In other news, CAO Scott B. Mcintosh sold 6,700 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $69.76, for a total transaction of $467,392.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $73.77, for a total value of $147,540.00. Following the sale, the senior vice president now owns 71,931 shares in the company, valued at approximately $5,306,349.87. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 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.