Sumitomo Life Insurance Co. Lowers Holdings in CMS Energy Co. (NYSE:CMS)

Sumitomo Life Insurance Co. cut its position in CMS Energy Co. (NYSE:CMS) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,376 shares of the utilities provider’s stock after selling 642 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in CMS Energy were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CMS. Headinvest LLC purchased a new stake in CMS Energy in the 3rd quarter worth approximately $26,000. Covington Capital Management purchased a new stake in CMS Energy in the 3rd quarter worth approximately $27,000. American National Bank lifted its stake in CMS Energy by 1,213.6% in the 3rd quarter. American National Bank now owns 578 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 534 shares in the last quarter. Clear Street Markets LLC lifted its stake in CMS Energy by 94.9% in the 1st quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 279 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in CMS Energy in the 3rd quarter worth approximately $36,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CMS. Seaport Res Ptn cut shares of CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Wolfe Research upgraded shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Tuesday, January 16th. KeyCorp raised their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. raised their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada lowered their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.55.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

CMS Energy Stock Performance

Shares of CMS stock opened at $57.61 on Tuesday. The company has a 50 day moving average price of $58.28 and a 200-day moving average price of $57.06. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $63.76. The firm has a market capitalization of $17.20 billion, a PE ratio of 19.14, a P/E/G ratio of 2.23 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, equities research analysts expect that CMS Energy Co. will post 3.34 earnings per share for the current year.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.58%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, February 9th. CMS Energy’s payout ratio is 68.44%.

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.