Summit Global Investments Invests $15.51 Million in CMS Energy Co. (NYSE:CMS)

Summit Global Investments acquired a new stake in CMS Energy Co. (NYSE:CMS) during the fourth quarter, HoldingsChannel reports. The fund acquired 232,648 shares of the utilities provider’s stock, valued at approximately $15,506,000. CMS Energy makes up approximately 1.0% of Summit Global Investments’ investment portfolio, making the stock its 15th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after acquiring an additional 719,093 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 105,062 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 18,403 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CMS Energy by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,879,271 shares of the utilities provider’s stock valued at $125,253,000 after buying an additional 56,882 shares during the period. Finally, Truist Financial Corp grew its position in CMS Energy by 10.0% during the fourth quarter. Truist Financial Corp now owns 1,621,562 shares of the utilities provider’s stock worth $108,077,000 after buying an additional 147,540 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Price Performance

CMS Energy stock opened at $73.49 on Friday. The company has a market capitalization of $21.96 billion, a PE ratio of 22.13, a P/E/G ratio of 2.56 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average price of $69.81 and a two-hundred day moving average price of $69.11. CMS Energy Co. has a 12 month low of $56.61 and a 12 month high of $75.06.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, February 6th. The utilities provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. Analysts expect that CMS Energy Co. will post 3.59 EPS for the current year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.52. CMS Energy’s payout ratio is 65.36%.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $73.77, for a total value of $147,540.00. Following the transaction, the senior vice president now owns 71,931 shares in the company, valued at $5,306,349.87. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura Wright sold 2,500 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $69.84, for a total value of $174,600.00. Following the sale, the director now owns 38,790 shares of the company’s stock, valued at approximately $2,709,093.60. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,200 shares of company stock valued at $789,532. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

CMS has been the topic of a number of recent research reports. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Guggenheim restated a “neutral” rating and issued a $69.00 price target on shares of CMS Energy in a research report on Friday, February 7th. UBS Group boosted their target price on shares of CMS Energy from $77.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $75.00 in a research report on Thursday, February 20th. Finally, Scotiabank boosted their price objective on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.36.

About CMS Energy

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.