Prosperity Financial Group Inc. Purchases New Holdings in CMS Energy Co. (NYSE:CMS)

Prosperity Financial Group Inc. acquired a new stake in CMS Energy Co. (NYSE:CMS) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 3,121 shares of the utilities provider’s stock, valued at approximately $220,000.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in CMS Energy by 171.9% in 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. Covestor Ltd grew its holdings in CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after buying an additional 472 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 578 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of CMS Energy during the second quarter worth $43,000. Finally, Values First Advisors Inc. acquired a new stake in shares of CMS Energy during the third quarter worth $56,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Price Performance

CMS opened at $69.52 on Monday. The company’s 50 day simple moving average is $69.72 and its 200-day simple moving average is $65.52. CMS Energy Co. has a one year low of $55.10 and a one year high of $72.40. The stock has a market capitalization of $20.77 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. Sell-side analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s dividend payout ratio is presently 58.86%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CMS. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Jefferies Financial Group assumed coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 target price on the stock. Barclays lifted their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank lifted their price target 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. Finally, Bank of America lifted their target price on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.21.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

CMS Energy Company 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.