UBS Group AG Sells 51,709 Shares of CMS Energy Co. (NYSE:CMS)

Posted by Defense World Staff on Mar 6th, 2023

UBS Group AG decreased its holdings in CMS Energy Co. (NYSE:CMS – Get Rating) by 51.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,925 shares of the utilities provider’s stock after selling 51,709 shares during the period. UBS Group AG’s holdings in CMS Energy were worth $2,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. State Street Corp raised its stake in CMS Energy by 2.7% in the second quarter. State Street Corp now owns 16,773,429 shares of the utilities provider’s stock worth $1,132,206,000 after buying an additional 441,528 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CMS Energy by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 16,252,772 shares of the utilities provider’s stock worth $1,097,061,000 after purchasing an additional 61,795 shares during the last quarter. Wells Fargo & Company MN grew its holdings in CMS Energy by 157.3% in the second quarter. Wells Fargo & Company MN now owns 5,757,684 shares of the utilities provider’s stock worth $388,644,000 after purchasing an additional 3,519,691 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in CMS Energy by 60.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,319,800 shares of the utilities provider’s stock worth $291,586,000 after purchasing an additional 1,625,800 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in CMS Energy by 0.3% in the first 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 last quarter. Institutional investors own 92.16% of the company’s stock.

Insider Buying and Selling

In related news, SVP Shaun M. Johnson sold 814 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $61.74, for a total transaction of $50,256.36. Following the completion of the transaction, the senior vice president now owns 57,304 shares in the company, valued at approximately $3,537,948.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMS. Credit Suisse Group raised shares of CMS Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $61.00 to $64.00 in a report on Monday, November 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 price target on shares of CMS Energy in a report on Wednesday, February 8th. BMO Capital Markets cut their price target on shares of CMS Energy from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Tuesday, February 14th. StockNews.com lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Finally, Wells Fargo & Company dropped their price objective on shares of CMS Energy from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.33.

CMS Energy Trading Up 1.6 %

Shares of CMS Energy stock opened at $59.84 on Monday. The firm has a 50-day simple moving average of $62.32 and a two-hundred day simple moving average of $61.94. The company has a market cap of $17.45 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.42 and a beta of 0.34. CMS Energy Co. has a fifty-two week low of $52.41 and a fifty-two week high of $73.76. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.78 and a current ratio of 1.15.

CMS Energy (NYSE:CMS – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The utilities provider reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. CMS Energy had a net margin of 9.74% and a return on equity of 11.57%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict that CMS Energy Co. will post 3.11 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 13th were given a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from CMS Energy’s previous quarterly dividend of $0.46. CMS Energy’s dividend payout ratio is 68.42%.

CMS Energy Profile

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CMS Energy Corp. is a holding company, which engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment consists of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan.