Cibc World Markets Corp Acquires 6,624 Shares of CMS Energy Co. (NYSE:CMS)

Cibc World Markets Corp boosted its holdings in CMS Energy Co. (NYSE:CMS) by 16.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,160 shares of the utilities provider’s stock after purchasing an additional 6,624 shares during the quarter. Cibc World Markets Corp’s holdings in CMS Energy were worth $3,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMS. BankPlus Trust Department bought a new position in shares of CMS Energy during the 4th quarter valued at approximately $29,000. First Horizon Advisors Inc. boosted its position in shares of CMS Energy by 171.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 275 shares during the last quarter. Richardson Financial Services Inc. boosted its position in shares of CMS Energy by 106.8% during the 4th quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 235 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of CMS Energy during the 3rd quarter valued at approximately $40,000. Finally, Larson Financial Group LLC boosted its position in shares of CMS Energy by 2,900.0% during the 4th quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 696 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Scott B. Mcintosh sold 6,700 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $69.76, for a total value of $467,392.00. Following the completion of the transaction, the chief accounting officer now directly owns 21,643 shares in the company, valued at $1,509,815.68. This trade represents a 23.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $73.77, for a total value of $147,540.00. Following the completion of the transaction, the senior vice president now owns 71,931 shares of the company’s stock, valued at approximately $5,306,349.87. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,200 shares of company stock valued at $789,532. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CMS. Barclays upgraded CMS Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $68.00 to $75.00 in a research report on Thursday, February 20th. Guggenheim restated a “neutral” rating and set a $69.00 price target on shares of CMS Energy in a report on Friday, February 7th. Scotiabank increased their price target on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley decreased their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CMS Energy Stock Performance

CMS stock opened at $73.73 on Friday. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.56 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.79 and a debt-to-equity ratio of 1.80. CMS Energy Co. has a twelve month low of $56.61 and a twelve month high of $75.06. The business’s fifty day simple moving average is $69.65 and its two-hundred day simple moving average is $69.07.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a return on equity of 12.02% and a net margin of 13.35%. Analysts predict that CMS Energy Co. will post 3.59 earnings per share for the current year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, February 14th. This is an increase from CMS Energy’s previous quarterly dividend of $0.52. CMS Energy’s dividend payout ratio (DPR) is currently 65.36%.

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.