Legacy Capital Group California Inc. Acquires Shares of 8,288 CMS Energy Co. (NYSE:CMS)

Legacy Capital Group California Inc. acquired a new stake in CMS Energy Co. (NYSE:CMS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,288 shares of the utilities provider’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after purchasing an additional 719,093 shares during the last quarter. Geode Capital Management LLC raised its position in CMS Energy by 1.4% during the third quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider’s stock valued at $528,713,000 after acquiring an additional 105,062 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CMS Energy by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider’s stock valued at $152,267,000 after acquiring an additional 18,403 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CMS Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock worth $128,715,000 after purchasing an additional 25,196 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of CMS Energy by 10.0% during the 4th quarter. Truist Financial Corp now owns 1,621,562 shares of the utilities provider’s stock valued at $108,077,000 after purchasing an additional 147,540 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.22, for a total transaction of $134,440.00. Following the transaction, the senior vice president now directly owns 63,197 shares of the company’s stock, valued at $4,248,102.34. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John G. Russell sold 28,750 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the completion of the sale, the director now directly owns 144,059 shares of the company’s stock, valued at approximately $9,486,285.15. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,450 shares of company stock worth $2,495,020 in the last ninety days. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $68.00 to $75.00 in a research report on Thursday. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group assumed coverage on CMS Energy in a report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target for the company. Morgan Stanley dropped their price objective on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Guggenheim reaffirmed a “neutral” rating and set a $69.00 target price on shares of CMS Energy in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and a consensus target price of $71.69.

CMS Energy Stock Up 0.9 %

NYSE CMS opened at $70.76 on Friday. The business has a fifty day moving average price of $67.07 and a 200 day moving average price of $68.18. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.57 and a current ratio of 0.79. The company has a market cap of $21.14 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.52 and a beta of 0.42. CMS Energy Co. has a one year low of $56.31 and a one year high of $72.40.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, February 6th. The utilities provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. Research analysts anticipate that CMS Energy Co. will post 3.59 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 3.07%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, February 14th. CMS Energy’s dividend payout ratio (DPR) is 65.36%.

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.