Assetmark Inc. Grows Stock Holdings in CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Aug 8th, 2023

Assetmark Inc. increased its stake in shares of CMS Energy Co. (NYSE:CMS – Free Report) by 21.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,838 shares of the utilities provider’s stock after purchasing an additional 9,135 shares during the period. Assetmark Inc.’s holdings in CMS Energy were worth $3,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. AMI Investment Management Inc. bought a new stake in CMS Energy during the first quarter valued at approximately $203,000. Cetera Advisor Networks LLC grew its position in CMS Energy by 15.3% during the first quarter. Cetera Advisor Networks LLC now owns 4,179 shares of the utilities provider’s stock valued at $292,000 after buying an additional 555 shares during the period. Cibc World Market Inc. bought a new stake in CMS Energy during the first quarter valued at approximately $3,914,000. Dimensional Fund Advisors LP grew its position in CMS Energy by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 982,606 shares of the utilities provider’s stock valued at $68,724,000 after buying an additional 56,659 shares during the period. Finally, Blair William & Co. IL grew its position in CMS Energy by 2.6% during the first quarter. Blair William & Co. IL now owns 6,561 shares of the utilities provider’s stock valued at $459,000 after buying an additional 168 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Stock Down 0.3 %

Shares of CMS Energy stock opened at $57.54 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.95 and a quick ratio of 0.63. CMS Energy Co. has a 1 year low of $52.41 and a 1 year high of $71.19. The firm’s 50-day moving average is $59.98 and its two-hundred day moving average is $60.59. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.38 and a beta of 0.36.

CMS Energy (NYSE:CMS – Get Free Report) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. CMS Energy had a net margin of 9.07% and a return on equity of 10.38%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. As a group, research analysts expect that CMS Energy Co. will post 3.1 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Friday, August 4th will be issued a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, August 3rd. CMS Energy’s dividend payout ratio is currently 78.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho lowered their target price on shares of CMS Energy from $68.00 to $65.00 in a report on Monday, June 5th. Argus lowered their target price on shares of CMS Energy from $75.00 to $62.00 in a report on Monday, June 26th. BMO Capital Markets lowered their target price on shares of CMS Energy from $70.00 to $64.00 in a report on Friday, May 19th. StockNews.com assumed coverage on shares of CMS Energy in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of CMS Energy from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average price target of $65.60.

Get Our Latest Research Report on CMS Energy

Insider Activity at CMS Energy

In other CMS Energy news, SVP Catherine A. Hendrian sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $60.26, for a total transaction of $451,950.00. Following the completion of the transaction, the senior vice president now directly owns 48,436 shares of the company’s stock, valued at approximately $2,918,753.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by insiders.

CMS Energy Company Profile

(Free Report)

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.