CMS Energy Co. (NYSE:CMS) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its position in CMS Energy Co. (NYSE:CMS) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,621,562 shares of the utilities provider’s stock after acquiring an additional 147,540 shares during the quarter. Truist Financial Corp owned approximately 0.54% of CMS Energy worth $108,077,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. grew its position in CMS Energy by 106.8% in the 4th quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 235 shares in the last quarter. First Horizon Advisors Inc. grew its position 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 in the last quarter. Brooklyn Investment Group acquired a new position in CMS Energy in the 3rd quarter valued at about $40,000. Covestor Ltd grew its position in CMS Energy by 206.1% in the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 472 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of CMS Energy in the 3rd quarter valued at about $56,000. 93.57% of the stock is owned by institutional investors and hedge funds.

CMS Energy Price Performance

Shares of NYSE CMS opened at $68.88 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.94. CMS Energy Co. has a twelve month low of $56.31 and a twelve month high of $72.40. The stock has a 50 day moving average of $66.94 and a two-hundred day moving average of $68.12. The stock 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.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data 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%. On average, research analysts forecast that CMS Energy Co. will post 3.59 earnings per share for the current year.

CMS Energy Increases Dividend

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

Insider Activity

In other news, CAO Scott B. Mcintosh sold 6,700 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $69.76, for a total value of $467,392.00. Following the transaction, the chief accounting officer now owns 21,643 shares of the company’s stock, valued at approximately $1,509,815.68. The trade was a 23.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John G. Russell sold 28,750 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the transaction, the director now directly owns 144,059 shares in the company, valued at approximately $9,486,285.15. The trade was 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 valued at $2,559,136. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CMS has been the subject of several 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 reiterated a “neutral” rating and issued a $69.00 price objective on shares of CMS Energy in a research note on Friday, February 7th. Scotiabank lifted their price objective on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley decreased their price objective on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on CMS Energy in a research note on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.15.

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.