CMS Energy Co. (NYSE:CMS) Shares Sold by Aviva PLC

Posted by Defense World Staff on Mar 1st, 2023

Aviva PLC reduced its stake in CMS Energy Co. (NYSE:CMS – Get Rating) by 89.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,282 shares of the utilities provider’s stock after selling 36,487 shares during the quarter. Aviva PLC’s holdings in CMS Energy were worth $249,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of CMS Energy by 2.7% during the 2nd quarter. State Street Corp now owns 16,773,429 shares of the utilities provider’s stock valued at $1,132,206,000 after purchasing an additional 441,528 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of CMS Energy by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,252,772 shares of the utilities provider’s stock worth $1,097,061,000 after acquiring an additional 61,795 shares in the last quarter. Wells Fargo & Company MN raised its position in CMS Energy by 157.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,757,684 shares of the utilities provider’s stock worth $388,644,000 after purchasing an additional 3,519,691 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of CMS Energy by 60.3% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,319,800 shares of the utilities provider’s stock valued at $291,586,000 after acquiring an additional 1,625,800 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of CMS Energy by 0.3% in the 1st quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider’s stock valued at $291,830,000 after buying an additional 13,528 shares in the last quarter. 92.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Shaun M. Johnson sold 814 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $61.74, for a total transaction of $50,256.36. Following the transaction, the senior vice president now directly owns 57,304 shares in the company, valued at $3,537,948.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of CMS Energy from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Morgan Stanley cut their target price on shares of CMS Energy from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd. Credit Suisse Group upgraded shares of CMS Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $61.00 to $64.00 in a research report on Monday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $71.00 target price on shares of CMS Energy in a research note on Wednesday, February 8th. Finally, BMO Capital Markets lowered their target price on shares of CMS Energy from $70.00 to $69.00 and set an “outperform” rating for the company in a research note on Tuesday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.33.

CMS Energy Stock Down 1.2 %

Shares of NYSE CMS opened at $58.97 on Wednesday. The stock has a market capitalization of $17.18 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.44 and a beta of 0.34. The company has a 50-day moving average price of $62.56 and a 200-day moving average price of $62.18. CMS Energy Co. has a 1 year low of $52.41 and a 1 year high of $73.76. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.15 and a quick ratio of 0.78.

CMS Energy (NYSE:CMS – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.05 billion. CMS Energy had a net margin of 9.74% and a return on equity of 11.57%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that CMS Energy Co. will post 3.11 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Monday, February 13th were issued a dividend of $0.4875 per share. This is a boost from CMS Energy’s previous quarterly dividend of $0.46. This represents a $1.95 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, February 10th. CMS Energy’s dividend payout ratio (DPR) is currently 68.42%.

CMS Energy Profile

(Get Rating)

CMS Energy Corp. is a holding company, which engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment consists of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan.