State of Michigan Retirement System Has $4.87 Million Stock Position in CMS Energy Co. (NYSE:CMS)

State of Michigan Retirement System grew its position in CMS Energy Co. (NYSE:CMS) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,699 shares of the utilities provider’s stock after acquiring an additional 800 shares during the period. State of Michigan Retirement System’s holdings in CMS Energy were worth $4,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CMS. Federated Hermes Inc. lifted its position in CMS Energy by 624.7% during the 3rd quarter. Federated Hermes Inc. now owns 1,145 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 987 shares during the period. O Shaughnessy Asset Management LLC bought a new position in CMS Energy in the third quarter valued at approximately $211,000. Tower Research Capital LLC TRC grew its holdings in CMS Energy by 9.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 14,015 shares of the utilities provider’s stock worth $744,000 after acquiring an additional 1,174 shares during the period. Bank of Nova Scotia raised its position in shares of CMS Energy by 8.0% during the 3rd quarter. Bank of Nova Scotia now owns 33,940 shares of the utilities provider’s stock valued at $1,803,000 after acquiring an additional 2,512 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of CMS Energy by 38.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 17,411 shares of the utilities provider’s stock valued at $925,000 after purchasing an additional 4,794 shares during the period. 93.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the transaction, the senior vice president now owns 68,330 shares of the company’s stock, valued at $4,098,433.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CMS Energy news, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the sale, the senior vice president now owns 68,330 shares in the company, valued at approximately $4,098,433.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the transaction, the director now owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,027 shares of company stock valued at $365,651. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CMS shares. UBS Group lowered CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Thursday, April 4th. Barclays lifted their price objective on shares of CMS Energy from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Scotiabank cut their target price on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reduced their price target on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and a consensus target price of $64.20.

CMS Energy Stock Performance

Shares of CMS Energy stock opened at $58.97 on Wednesday. CMS Energy Co. has a 1-year low of $49.87 and a 1-year high of $63.76. The company has a 50 day moving average of $61.05 and a 200-day moving average of $59.12. The company has a current ratio of 1.35, a quick ratio of 1.05 and a debt-to-equity ratio of 1.82. The company has a market cap of $17.58 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.38.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. As a group, equities research analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a $0.515 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a yield of 3.49%. CMS Energy’s payout ratio is presently 62.80%.

CMS Energy Profile

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.