Robbins Farley Acquires New Position in CMS Energy Co. (NYSE:CMS)

Robbins Farley acquired a new stake in CMS Energy Co. (NYSE:CMS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 932 shares of the utilities provider’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. abrdn plc grew its holdings in CMS Energy by 1.3% during the fourth quarter. abrdn plc now owns 980,651 shares of the utilities provider’s stock worth $65,056,000 after acquiring an additional 12,550 shares during the period. Richardson Financial Services Inc. boosted its position in shares of CMS Energy by 106.8% during the 4th quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 235 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in shares of CMS Energy during the 4th quarter worth $241,000. Caprock Group LLC purchased a new position in shares of CMS Energy in the 4th quarter valued at about $237,000. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of CMS Energy in the fourth quarter valued at about $176,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the transaction, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John G. Russell sold 28,750 shares of CMS Energy stock in a transaction dated 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 $9,486,285.15. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,686 shares of company stock valued at $2,228,084. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CMS. Guggenheim downgraded CMS Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets cut their target price on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Scotiabank increased their price target 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. Finally, Barclays lifted their price objective on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and an average price target of $71.00.

CMS Energy Stock Up 0.8 %

Shares of NYSE:CMS opened at $66.52 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The firm has a market cap of $19.87 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.39 and a beta of 0.42. The stock’s 50-day moving average price is $67.06 and its two-hundred day moving average price is $67.73. CMS Energy Co. has a 12-month low of $55.10 and a 12-month high of $72.40.

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.