Bank of America Corp DE lowered its stake in CMS Energy Co. (NYSE:CMS – Get Rating) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,089,146 shares of the utilities provider's stock after selling 267,770 shares during the quarter. Bank of America Corp DE owned about 0.72% of CMS Energy worth $146,115,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its position in shares of CMS Energy by 4.1% during the 4th quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider's stock valued at $1,710,283,000 after buying an additional 1,029,930 shares in the last quarter. State Street Corp raised its position in shares of CMS Energy by 11.0% during the 1st quarter. State Street Corp now owns 16,331,901 shares of the utilities provider's stock valued at $1,142,253,000 after buying an additional 1,613,255 shares in the last quarter. JPMorgan Chase & Co. raised its position in CMS Energy by 1.3% in the 1st quarter. JPMorgan Chase & Co. now owns 16,190,977 shares of the utilities provider's stock worth $1,132,395,000 after purchasing an additional 214,355 shares during the period. Invesco Ltd. raised its position in CMS Energy by 0.3% in the 1st quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider's stock worth $291,830,000 after purchasing an additional 13,528 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in CMS Energy by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,105,181 shares of the utilities provider's stock worth $287,117,000 after purchasing an additional 296,933 shares during the period. Hedge funds and other institutional investors own 92.62% of the company's stock.
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CMS Energy Price Performance
NYSE CMS opened at $65.78 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.65 and a current ratio of 1.00. The firm's 50 day moving average price is $68.05 and its 200-day moving average price is $68.30. CMS Energy Co. has a 52-week low of $58.51 and a 52-week high of $73.76. The company has a market cap of $19.09 billion, a PE ratio of 14.46, a P/E/G ratio of 2.80 and a beta of 0.28.
CMS Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Tuesday, September 6th will be paid a dividend of $4.50 per share. The ex-dividend date is Friday, September 2nd. This is an increase from CMS Energy's previous quarterly dividend of $0.46. This represents a $18.00 dividend on an annualized basis and a dividend yield of 27.36%. CMS Energy's dividend payout ratio (DPR) is currently 40.44%.
Analyst Ratings Changes
CMS has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their price objective on shares of CMS Energy from $80.00 to $71.00 and set an "outperform" rating on the stock in a research report on Monday, June 27th. Barclays reduced their price objective on shares of CMS Energy from $76.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Monday, July 18th. Morgan Stanley reduced their price objective on shares of CMS Energy from $69.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Mizuho reduced their price objective on shares of CMS Energy from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $70.80.
CMS Energy Profile
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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.
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