Mackenzie Financial Corp Lowers Position in CMS Energy Co. (NYSE:CMS)

Mackenzie Financial Corp cut its position in CMS Energy Co. (NYSE:CMS) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,067 shares of the utilities provider’s stock after selling 1,900 shares during the quarter. Mackenzie Financial Corp’s holdings in CMS Energy were worth $1,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in CMS Energy by 7.3% in the third quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock worth $247,658,000 after purchasing an additional 317,682 shares in the last quarter. abrdn plc raised its holdings in CMS Energy by 1.9% in the third quarter. abrdn plc now owns 3,144,280 shares of the utilities provider’s stock worth $166,993,000 after purchasing an additional 58,405 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in CMS Energy by 23.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,054,137 shares of the utilities provider’s stock worth $162,205,000 after purchasing an additional 570,800 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in CMS Energy by 6.1% in the third quarter. Ceredex Value Advisors LLC now owns 1,847,108 shares of the utilities provider’s stock worth $98,100,000 after purchasing an additional 106,172 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in CMS Energy by 1.5% in the third quarter. California Public Employees Retirement System now owns 1,833,803 shares of the utilities provider’s stock worth $97,393,000 after purchasing an additional 27,644 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMS. JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Seaport Res Ptn downgraded shares of CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Scotiabank cut their price objective on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a report on Monday. KeyCorp upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada cut their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have given 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 an average price target of $63.00.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $60.28 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $63.76. The company’s 50 day moving average is $58.65 and its 200 day moving average is $57.36. The company has a market cap of $18.00 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.33 and a beta of 0.38.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. On average, sell-side analysts forecast that CMS Energy Co. will post 3.33 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. Shareholders of record on Wednesday, May 15th will be given a $0.515 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 annualized dividend and a yield of 3.42%. CMS Energy’s dividend payout ratio is presently 68.44%.

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.