Alaska Permanent Fund Corp Cuts Stake in CMS Energy Co. (NYSE:CMS)

Alaska Permanent Fund Corp lowered its stake in shares of CMS Energy Co. (NYSE:CMS) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,483 shares of the utilities provider’s stock after selling 318 shares during the period. Alaska Permanent Fund Corp’s holdings in CMS Energy were worth $144,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Headinvest LLC purchased a new stake in shares of CMS Energy during the third quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of CMS Energy during the third quarter valued at about $36,000. Tobam increased its position in shares of CMS Energy by 2,432.3% during the fourth quarter. Tobam now owns 785 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 754 shares during the last quarter. CVA Family Office LLC purchased a new position in CMS Energy in the fourth quarter valued at about $47,000. Finally, Quent Capital LLC increased its holdings in CMS Energy by 63.8% during the 4th quarter. Quent Capital LLC now owns 829 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Insider Buying and Selling

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on CMS shares. Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. Seaport Res Ptn lowered CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Wolfe Research upgraded CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Tuesday, January 16th. Barclays decreased their price objective on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average target price of $63.33.

CMS Energy Stock Performance

Shares of CMS stock opened at $59.35 on Friday. The business has a 50 day simple moving average of $58.76 and a 200 day simple moving average of $57.42. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.03 and a quick ratio of 0.66. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.35 and a beta of 0.38. CMS Energy Co. has a 12-month low of $49.87 and a 12-month high of $63.76.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. On average, equities research analysts anticipate that CMS Energy Co. will post 3.32 EPS for the current year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.47%. CMS Energy’s dividend payout ratio is presently 62.80%.

CMS Energy Company 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.