M&T Bank Corp Increases Holdings in CMS Energy Co. (NYSE:CMS)

M&T Bank Corp grew its position in shares of CMS Energy Co. (NYSE:CMS) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,215 shares of the utilities provider’s stock after buying an additional 3,497 shares during the quarter. M&T Bank Corp owned 0.16% of CMS Energy worth $34,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 275 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of CMS Energy in the 3rd quarter worth approximately $40,000. Innealta Capital LLC purchased a new position in shares of CMS Energy in the second quarter worth approximately $43,000. Covestor Ltd boosted its holdings in shares of CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after buying an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in CMS Energy during the third quarter valued at approximately $56,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Stock Up 1.3 %

Shares of CMS stock opened at $66.61 on Friday. The company’s fifty day simple moving average is $68.81 and its two-hundred day simple moving average is $66.26. CMS Energy Co. has a 52 week low of $55.10 and a 52 week high of $72.40. The stock has a market cap of $19.90 billion, a P/E ratio of 19.03, a PEG ratio of 2.66 and a beta of 0.41. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 earnings per share. Analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.515 per share. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 3.09%. CMS Energy’s dividend payout ratio is presently 58.86%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMS shares. Morgan Stanley dropped their price target on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group initiated coverage on CMS Energy in a report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price target for the company. KeyCorp upped their price target on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America lifted their price objective on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays increased their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.36.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the transaction, the senior vice president now owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. The trade was a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John G. Russell sold 28,750 shares of CMS Energy stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the transaction, the director now directly owns 144,059 shares of the company’s stock, valued at $9,486,285.15. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,686 shares of company stock worth $2,228,084 over the last 90 days. 0.40% of the stock is owned by insiders.

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.