Allspring Global Investments Holdings LLC Lowers Position in CMS Energy Co. (NYSE:CMS)

Allspring Global Investments Holdings LLC cut its holdings in shares of CMS Energy Co. (NYSE:CMS) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 251,114 shares of the utilities provider’s stock after selling 7,936 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CMS Energy were worth $17,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CMS. Stephens Consulting LLC lifted its stake in CMS Energy by 9.1% during the 3rd quarter. Stephens Consulting LLC now owns 4,102 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 343 shares in the last quarter. Raymond James & Associates lifted its stake in CMS Energy by 310.2% during the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after acquiring an additional 851,364 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in CMS Energy by 1.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 60,697 shares of the utilities provider’s stock worth $4,287,000 after acquiring an additional 883 shares in the last quarter. Blue Trust Inc. lifted its stake in CMS Energy by 32.7% during the 3rd quarter. Blue Trust Inc. now owns 6,140 shares of the utilities provider’s stock worth $434,000 after acquiring an additional 1,514 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in CMS Energy by 12.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,613 shares of the utilities provider’s stock worth $3,434,000 after acquiring an additional 5,233 shares in the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CMS. Bank of America increased their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley increased their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. BMO Capital Markets increased their price target on CMS Energy from $69.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, Barclays increased their price target on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Price Performance

Shares of NYSE CMS opened at $71.76 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. CMS Energy Co. has a fifty-two week low of $53.38 and a fifty-two week high of $72.40. The firm has a market capitalization of $21.43 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. The stock’s 50-day simple moving average is $69.32 and its 200-day simple moving average is $64.08.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.75 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

About CMS Energy

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.