State of Alaska Department of Revenue raised its holdings in CMS Energy Co. (NYSE:CMS – Get Rating) by 5.0% in the second quarter, Holdings Channel.com reports. The fund owned 86,734 shares of the utilities provider’s stock after acquiring an additional 4,135 shares during the quarter. State of Alaska Department of Revenue’s holdings in CMS Energy were worth $5,853,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in CMS Energy by 38.5% in the first quarter. Russell Investments Group Ltd. now owns 202,564 shares of the utilities provider’s stock valued at $14,165,000 after acquiring an additional 56,307 shares during the last quarter. Parallel Advisors LLC lifted its stake in CMS Energy by 18.6% in the first quarter. Parallel Advisors LLC now owns 2,300 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 361 shares during the last quarter. State Street Corp lifted its stake in 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 acquiring an additional 39,112 shares during the last quarter. Hightower 6M Holding LLC acquired a new stake in CMS Energy in the first quarter valued at approximately $226,000. Finally, MetLife Investment Management LLC raised its position in shares of CMS Energy by 23.2% in the first quarter. MetLife Investment Management LLC now owns 78,825 shares of the utilities provider’s stock valued at $5,513,000 after purchasing an additional 14,821 shares during the period. 92.62% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CMS has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of CMS Energy from $80.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, June 27th. Barclays dropped their price target on shares of CMS Energy from $76.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Morgan Stanley lifted their price target on shares of CMS Energy from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 23rd. Finally, Mizuho dropped their price target on shares of CMS Energy from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.00.
CMS Energy Trading Down 0.7 %
CMS Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Tuesday, September 6th will be given a dividend of $4.50 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $18.00 dividend on an annualized basis and a yield of 26.97%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.46. CMS Energy’s payout ratio is 40.44%.
CMS Energy 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.
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