PNC Financial Services Group Inc. Has $2.41 Million Stake in CMS Energy Co. (NYSE:CMS)

PNC Financial Services Group Inc. raised its position in shares of CMS Energy Co. (NYSE:CMSGet Rating) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 34,479 shares of the utilities provider’s stock after acquiring an additional 397 shares during the period. PNC Financial Services Group Inc.’s holdings in CMS Energy were worth $2,412,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of CMS Energy by 4.1% during the fourth quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider’s stock worth $1,710,283,000 after buying an additional 1,029,930 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CMS Energy by 1.3% in the first quarter. JPMorgan Chase & Co. now owns 16,190,977 shares of the utilities provider’s stock valued at $1,132,395,000 after purchasing an additional 214,355 shares in the last quarter. State Street Corp increased its holdings in shares of CMS Energy by 0.3% in the fourth quarter. State Street Corp now owns 14,718,646 shares of the utilities provider’s stock valued at $957,448,000 after purchasing an additional 39,112 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CMS Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,465,158 shares of the utilities provider’s stock valued at $354,614,000 after purchasing an additional 119,992 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of CMS Energy by 7.6% in the fourth quarter. Invesco Ltd. now owns 4,159,024 shares of the utilities provider’s stock valued at $270,546,000 after purchasing an additional 294,056 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CMS. BMO Capital Markets lowered their price target on shares of CMS Energy from $80.00 to $71.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Mizuho lowered their target price on shares of CMS Energy from $74.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Morgan Stanley lifted their target price on shares of CMS Energy from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 23rd. Finally, Barclays lowered their target price on shares of CMS Energy from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.00.

Insider Transactions at CMS Energy

In other news, Director Jon E. Barfield sold 1,267 shares of CMS Energy stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $69.44, for a total transaction of $87,980.48. Following the transaction, the director now directly owns 13,620 shares of the company’s stock, valued at $945,772.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Shaun M. Johnson sold 736 shares of the business’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $67.77, for a total value of $49,878.72. Following the sale, the senior vice president now directly owns 44,543 shares of the company’s stock, valued at approximately $3,018,679.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon E. Barfield sold 1,267 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $69.44, for a total transaction of $87,980.48. Following the completion of the sale, the director now directly owns 13,620 shares in the company, valued at $945,772.80. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

CMS Energy Trading Down 1.4 %

Shares of NYSE CMS opened at $67.14 on Tuesday. The company’s fifty day moving average is $67.63 and its 200-day moving average is $67.82. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 2.81 and a beta of 0.28. CMS Energy Co. has a twelve month low of $58.51 and a twelve month high of $73.76. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.62.

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Tuesday, September 6th will be given a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 26.81%. This is a boost from CMS Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 2nd. CMS Energy’s dividend payout ratio (DPR) is currently 40.44%.

CMS Energy Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for CMS Energy (NYSE:CMS)

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