International Assets Investment Management LLC Acquires New Stake in CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Apr 14th, 2023

International Assets Investment Management LLC acquired a new stake in shares of CMS Energy Co. (NYSE:CMS – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,921 shares of the utilities provider’s stock, valued at approximately $438,000.

Other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL increased its holdings in CMS Energy by 2.6% during the 1st quarter. Blair William & Co. IL now owns 6,561 shares of the utilities provider’s stock worth $459,000 after purchasing an additional 168 shares during the period. Kinneret Advisory LLC increased its holdings in shares of CMS Energy by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 7,756 shares of the utilities provider’s stock valued at $542,000 after acquiring an additional 174 shares during the period. Oxler Private Wealth LLC increased its holdings in shares of CMS Energy by 0.6% in the 3rd quarter. Oxler Private Wealth LLC now owns 27,126 shares of the utilities provider’s stock valued at $1,580,000 after acquiring an additional 174 shares during the period. Dupont Capital Management Corp increased its holdings in shares of CMS Energy by 23.1% in the 4th quarter. Dupont Capital Management Corp now owns 975 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 183 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of CMS Energy by 3.8% in the 4th quarter. Stephens Inc. AR now owns 5,314 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 194 shares during the period. Hedge funds and other institutional investors own 92.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMS. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and cut their price target for the company from $68.00 to $66.00 in a report on Wednesday, March 8th. BMO Capital Markets lowered their price objective on CMS Energy from $70.00 to $69.00 and set an “outperform” rating for the company in a research report on Tuesday, February 14th. Wells Fargo & Company lowered their price objective on CMS Energy from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. TheStreet raised CMS Energy from a “c+” rating to a “b-” rating in a research report on Tuesday. Finally, StockNews.com started coverage on CMS Energy in a research report on Thursday, March 16th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average price target of $65.56.

Insider Transactions at CMS Energy

In other news, SVP Shaun M. Johnson sold 814 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $61.74, for a total value of $50,256.36. Following the sale, the senior vice president now owns 57,304 shares in the company, valued at $3,537,948.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Shaun M. Johnson sold 814 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $61.74, for a total value of $50,256.36. Following the sale, the senior vice president now owns 57,304 shares in the company, valued at $3,537,948.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian F. Rich sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $61.72, for a total value of $246,880.00. Following the completion of the sale, the senior vice president now 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 7,314 shares of company stock worth $447,136 over the last quarter. 0.40% of the stock is currently owned by insiders.

CMS Energy Stock Up 0.5 %

CMS Energy stock opened at $61.73 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.78 and a current ratio of 1.15. The business’s 50-day simple moving average is $60.74 and its two-hundred day simple moving average is $60.49. The company has a market cap of $18.00 billion, a PE ratio of 21.66, a PEG ratio of 2.48 and a beta of 0.36. CMS Energy Co. has a fifty-two week low of $52.41 and a fifty-two week 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 earnings per share for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.05 billion. CMS Energy had a return on equity of 11.57% and a net margin of 9.74%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. Equities analysts anticipate that CMS Energy Co. will post 3.11 EPS for the current year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders 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 dividend yield of 3.16%. CMS Energy’s dividend payout ratio is presently 68.42%.

About CMS Energy

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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.