Whittier Trust Co. Purchases 1,503 Shares of CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Apr 7th, 2023

Whittier Trust Co. raised its holdings in shares of CMS Energy Co. (NYSE:CMS – Get Rating) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,340 shares of the utilities provider’s stock after purchasing an additional 1,503 shares during the quarter. Whittier Trust Co.’s holdings in CMS Energy were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. AMI Investment Management Inc. bought a new stake in shares of CMS Energy during the 1st quarter worth approximately $203,000. Cetera Advisor Networks LLC increased its position in shares of CMS Energy by 15.3% during the first quarter. Cetera Advisor Networks LLC now owns 4,179 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 555 shares in the last quarter. Cibc World Market Inc. purchased a new stake in CMS Energy in the 1st quarter valued at $3,914,000. Dimensional Fund Advisors LP raised its holdings in shares of CMS Energy by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 982,606 shares of the utilities provider’s stock valued at $68,724,000 after purchasing an additional 56,659 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of CMS Energy by 2.6% in the first quarter. Blair William & Co. IL now owns 6,561 shares of the utilities provider’s stock valued at $459,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 92.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of CMS Energy from $63.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 21st. StockNews.com initiated coverage on CMS Energy in a research note on Thursday, March 16th. They set a “sell” rating for the company. BMO Capital Markets cut their target price on CMS Energy from $70.00 to $69.00 and set an “outperform” rating for the company in a research note on Tuesday, February 14th. Wells Fargo & Company reduced their target price on shares of CMS Energy from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $71.00 price target on shares of CMS Energy in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

CMS Energy Trading Up 0.3 %

Shares of CMS stock opened at $62.31 on Friday. The stock has a market capitalization of $18.17 billion, a P/E ratio of 21.86, a P/E/G ratio of 2.44 and a beta of 0.36. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 1.79. The firm’s 50 day moving average is $60.87 and its 200 day moving average is $60.64. CMS Energy Co. has a 12-month low of $52.41 and a 12-month high of $73.76.

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

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Monday, February 13th were paid a $0.4875 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 10th. This represents a $1.95 dividend on an annualized basis and a yield of 3.13%. CMS Energy’s payout ratio is presently 68.42%.

Insiders Place Their Bets

In other CMS Energy news, SVP Brian F. Rich sold 4,000 shares of CMS Energy stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $61.72, for a total value of $246,880.00. Following the sale, the senior vice president now owns 91,927 shares of the company’s stock, valued at approximately $5,673,734.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Brandon J. Hofmeister sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $60.00, for a total transaction of $75,000.00. Following the transaction, the senior vice president now owns 62,881 shares of the company’s stock, valued at approximately $3,772,860. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian F. Rich sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $61.72, for a total value of $246,880.00. Following the transaction, the senior vice president now directly owns 91,927 shares in the company, valued at approximately $5,673,734.44. The disclosure for this sale can be found here. Insiders have sold a total of 7,314 shares of company stock valued at $447,136 in the last quarter. 0.40% of the stock is currently owned by insiders.

CMS Energy Profile

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CMS Energy Corp. engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility segment focuses on generation, purchase, distribution, and sale of electricity. The Gas Utility segment includes purchase, transmission, storage, distribution, and sale of natural gas.