Summit Trail Advisors LLC Acquires 2,976 Shares of CMS Energy Co. (NYSE:CMS)

Summit Trail Advisors LLC raised its stake in CMS Energy Co. (NYSE:CMS) by 83.2% in the third quarter, Holdings Channel reports. The fund owned 6,551 shares of the utilities provider’s stock after purchasing an additional 2,976 shares during the quarter. Summit Trail Advisors LLC’s holdings in CMS Energy were worth $463,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in CMS Energy by 35.5% in the 3rd quarter. Cerity Partners LLC now owns 26,566 shares of the utilities provider’s stock valued at $1,876,000 after purchasing an additional 6,959 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of CMS Energy by 43.0% during the third quarter. Raymond James Trust N.A. now owns 6,448 shares of the utilities provider’s stock worth $455,000 after buying an additional 1,940 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CMS Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock worth $128,715,000 after buying an additional 25,196 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 valued at $537,503,000 after acquiring an additional 719,093 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of CMS Energy by 171.9% during 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 in the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

CMS Energy Price Performance

Shares of CMS opened at $70.42 on Wednesday. The firm has a market cap of $21.04 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. CMS Energy Co. has a 52-week low of $55.10 and a 52-week high of $72.40. The business’s 50 day moving average price is $69.70 and its two-hundred day moving average price is $65.62. 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 released its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. CMS Energy’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. On average, equities analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.93%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s payout ratio is presently 58.86%.

Insider Buying and Selling

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. The trade was a 3.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Scott B. Mcintosh sold 936 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 24,417 shares in the company, valued at approximately $1,672,564.50. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

CMS has been the subject of a number of recent research reports. BMO Capital Markets lowered their target price on CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Scotiabank lifted their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com cut shares of CMS Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. Finally, KeyCorp increased 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. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.21.

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.