abrdn plc Has $68.34 Million Holdings in CMS Energy Co. (NYSE:CMS)

abrdn plc decreased its holdings in shares of CMS Energy Co. (NYSE:CMS) by 16.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 968,101 shares of the utilities provider’s stock after selling 189,109 shares during the period. abrdn plc’s holdings in CMS Energy were worth $68,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after acquiring an additional 2,786,071 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after purchasing an additional 3,473,977 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of CMS Energy by 105.9% during the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of CMS Energy by 46.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock worth $79,275,000 after purchasing an additional 421,059 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CMS Energy by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider’s stock valued at $76,292,000 after purchasing an additional 233,633 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMS shares. KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley raised their target price on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America raised their price objective on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets upped their target price on CMS Energy from $69.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

CMS Energy Stock Down 2.3 %

CMS opened at $69.54 on Wednesday. The stock’s fifty day simple moving average is $69.67 and its 200 day simple moving average is $64.47. CMS Energy Co. has a 1-year low of $53.53 and a 1-year high of $72.40. The stock has a market cap of $20.77 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.515 dividend. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 2.96%. CMS Energy’s dividend payout ratio is presently 62.80%.

CMS Energy Company 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.