Dai ichi Life Insurance Company Ltd Has $2.75 Million Stock Holdings in CMS Energy Co. (NYSE:CMS)

Dai ichi Life Insurance Company Ltd lowered its holdings in CMS Energy Co. (NYSE:CMS) by 14.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,959 shares of the utilities provider’s stock after selling 6,688 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in CMS Energy were worth $2,752,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. First Horizon Advisors Inc. lifted its stake 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 buying an additional 275 shares during the period. TruNorth Capital Management LLC grew its holdings in shares of CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 578 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of CMS Energy during the second quarter valued at approximately $43,000. Covestor Ltd raised its stake in shares of CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 472 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in CMS Energy in the third quarter worth $56,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CMS shares. Barclays increased their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. KeyCorp lifted their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company increased their target price on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on CMS Energy in a research note on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Scotiabank increased their price objective on CMS Energy from $66.00 to $75.00 and gave the stock 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 assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.21.

CMS Energy Stock Performance

Shares of CMS Energy stock opened at $70.49 on Thursday. The firm has a 50 day simple moving average of $69.71 and a 200 day simple moving average of $65.65. CMS Energy Co. has a fifty-two week low of $55.10 and a fifty-two week high of $72.40. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. The firm has a market cap of $21.06 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.78 and a beta of 0.41.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. Sell-side analysts predict that CMS Energy Co. will post 3.33 earnings per share 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 represents a $2.06 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 13th. CMS Energy’s payout ratio is 58.86%.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $68.17, for a total value 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. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $68.50, for a total value of $64,116.00. Following the transaction, the chief accounting officer now owns 24,417 shares of the company’s stock, valued at $1,672,564.50. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

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.