Balentine LLC Has $425,000 Stock Holdings in CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Apr 16th, 2023

Balentine LLC raised its position in CMS Energy Co. (NYSE:CMS – Get Rating) by 31.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,710 shares of the utilities provider’s stock after buying an additional 1,616 shares during the quarter. Balentine LLC’s holdings in CMS Energy were worth $425,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CMS Energy by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 37,060,269 shares of the utilities provider’s stock worth $2,158,389,000 after purchasing an additional 412,183 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CMS Energy by 2.0% during the 3rd quarter. BlackRock Inc. now owns 27,198,488 shares of the utilities provider’s stock worth $1,584,040,000 after purchasing an additional 524,947 shares in the last quarter. State Street Corp grew its holdings in shares of CMS Energy by 0.5% during the 3rd quarter. State Street Corp now owns 16,855,679 shares of the utilities provider’s stock worth $981,675,000 after purchasing an additional 82,250 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of CMS Energy by 12.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,863,552 shares of the utilities provider’s stock worth $283,253,000 after purchasing an additional 543,752 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of CMS Energy by 0.3% during the 1st quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider’s stock worth $291,830,000 after purchasing an additional 13,528 shares in the last quarter. 92.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMS. Royal Bank of Canada reissued a “sector perform” rating and set a $71.00 target price on shares of CMS Energy in a report on Wednesday, February 8th. StockNews.com began coverage on CMS Energy in a research report on Thursday, March 16th. They set a “sell” rating for the company. TheStreet upgraded CMS Energy from a “c+” rating to a “b-” rating in a research report on Tuesday. Bank of America upgraded CMS Energy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $68.00 to $66.00 in a research report on Wednesday, March 8th. Finally, Morgan Stanley dropped their price objective on CMS Energy from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average price target of $65.56.

CMS Energy Stock Performance

Shares of CMS stock opened at $60.79 on Friday. The business’s 50-day moving average price is $60.70 and its 200-day moving average price is $60.46. CMS Energy Co. has a 12 month low of $52.41 and a 12 month high of $73.76. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.46 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.

CMS Energy (NYSE:CMS – Get Rating) last announced 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. CMS Energy had a return on equity of 11.57% and a net margin of 9.74%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that CMS Energy Co. will post 3.11 EPS for the current year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 13th were paid a $0.4875 dividend. This is a positive change 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 3.21%. The ex-dividend date was Friday, February 10th. CMS Energy’s payout ratio is currently 68.42%.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 1,250 shares of CMS Energy stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $60.00, for a total value of $75,000.00. Following the transaction, the senior vice president now directly owns 64,131 shares of the company’s stock, valued at $3,847,860. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Brandon J. Hofmeister sold 1,250 shares of CMS Energy stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $60.00, for a total value of $75,000.00. Following the transaction, the senior vice president now directly owns 64,131 shares of the company’s stock, valued at $3,847,860. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president now directly owns 91,927 shares in the company, valued at $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 over the last ninety days. 0.40% of the stock is owned by company 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.