Brooklyn Investment Group Takes $40,000 Position in CMS Energy Co. (NYSE:CMS)

Brooklyn Investment Group purchased a new stake in CMS Energy Co. (NYSE:CMS) during the 3rd quarter, Holdings Channel reports. The firm purchased 564 shares of the utilities provider’s stock, valued at approximately $40,000.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its position in shares of CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 275 shares during the last quarter. TruNorth Capital Management LLC boosted its position in CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 578 shares during the last quarter. Innealta Capital LLC acquired a new stake in CMS Energy during the second quarter worth approximately $43,000. Covestor Ltd boosted its position in CMS Energy by 206.1% during the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new stake in CMS Energy during the third quarter worth approximately $56,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMS. StockNews.com downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and cut their target price for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. Bank of America raised their target price on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of CMS Energy in a research note on Tuesday, November 5th. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Scotiabank raised their target price on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.21.

Insiders Place Their Bets

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the sale, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This represents a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Scott B. Mcintosh sold 936 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the completion of the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

CMS Energy Price Performance

CMS opened at $69.74 on Friday. The company has a 50-day moving average of $69.74 and a 200-day moving average of $65.73. The company has a market capitalization of $20.84 billion, a P/E ratio of 19.93, a PEG ratio of 2.81 and a beta of 0.41. CMS Energy Co. has a 1-year low of $55.10 and a 1-year high of $72.40. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23.

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

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.515 dividend. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $2.06 annualized dividend and a yield of 2.95%. CMS Energy’s dividend payout ratio is 58.86%.

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.