Truist Financial Corp Grows Stake in CMS Energy Co. (NYSE:CMS)

Truist Financial Corp boosted its position in shares of CMS Energy Co. (NYSE:CMS) by 10.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,621,562 shares of the utilities provider’s stock after buying an additional 147,540 shares during the quarter. Truist Financial Corp’s holdings in CMS Energy were worth $108,077,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in shares of CMS Energy by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock worth $537,503,000 after buying an additional 719,093 shares in the last quarter. Geode Capital Management LLC raised its position in CMS Energy by 1.4% during the third quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider’s stock worth $528,713,000 after acquiring an additional 105,062 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CMS Energy by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider’s stock valued at $152,267,000 after purchasing an additional 18,403 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CMS Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock valued at $128,715,000 after purchasing an additional 25,196 shares during the last quarter. Finally, Brookfield Corp ON increased its stake in shares of CMS Energy by 0.6% during the 3rd quarter. Brookfield Corp ON now owns 1,199,811 shares of the utilities provider’s stock worth $84,743,000 after purchasing an additional 7,142 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $68.88 on Monday. The company has a market cap of $20.58 billion, a P/E ratio of 20.75, a P/E/G ratio of 2.48 and a beta of 0.42. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.94. CMS Energy Co. has a 52 week low of $56.31 and a 52 week high of $72.40. The business has a fifty day simple moving average of $66.94 and a 200-day simple moving average of $68.12.

CMS Energy (NYSE:CMS) last issued its earnings results 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%. Equities research analysts forecast that CMS Energy Co. will post 3.59 EPS for the current year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.17 dividend on an annualized basis and a yield of 3.15%. This is a boost from CMS Energy’s previous quarterly dividend of $0.52. CMS Energy’s dividend payout ratio (DPR) is presently 62.05%.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.22, for a total transaction of $134,440.00. Following the transaction, the senior vice president now owns 63,197 shares in the company, valued at $4,248,102.34. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John G. Russell sold 28,750 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $65.85, for a total value of $1,893,187.50. Following the transaction, the director now owns 144,059 shares in the company, valued at approximately $9,486,285.15. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,386 shares of company stock worth $2,559,136. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMS. BMO Capital Markets lowered their target price on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Morgan Stanley dropped their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Guggenheim reissued a “neutral” rating and set a $69.00 price target on shares of CMS Energy in a research report on Friday, February 7th. Finally, Scotiabank raised their price target on CMS Energy from $75.00 to $77.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.15.

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.