abrdn plc Sells 16,153 Shares of CMS Energy Co. (NYSE:CMS)

abrdn plc lessened its position in shares of CMS Energy Co. (NYSE:CMS) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,820,626 shares of the utilities provider’s stock after selling 16,153 shares during the period. abrdn plc’s holdings in CMS Energy were worth $166,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in CMS Energy by 39.2% in the 1st quarter. Franklin Resources Inc. now owns 7,096,812 shares of the utilities provider’s stock worth $434,467,000 after buying an additional 1,999,553 shares in the last quarter. Geode Capital Management LLC grew its stake in CMS Energy by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 5,113,699 shares of the utilities provider’s stock worth $312,252,000 after buying an additional 124,757 shares in the last quarter. Ameriprise Financial Inc. grew its stake in CMS Energy by 5.1% in the 1st quarter. Ameriprise Financial Inc. now owns 4,195,785 shares of the utilities provider’s stock worth $256,868,000 after buying an additional 204,025 shares in the last quarter. Standard Life Aberdeen plc grew its stake in CMS Energy by 49.6% in the 1st quarter. Standard Life Aberdeen plc now owns 2,836,779 shares of the utilities provider’s stock worth $173,667,000 after buying an additional 940,115 shares in the last quarter. Finally, FIL Ltd grew its stake in CMS Energy by 51.7% in the 1st quarter. FIL Ltd now owns 2,795,570 shares of the utilities provider’s stock worth $171,145,000 after buying an additional 952,241 shares in the last quarter. 90.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Jean-Francois Brossoit sold 770 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $64.82, for a total value of $49,911.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon E. Barfield sold 4,120 shares of the stock in a transaction dated Monday, August 23rd. The stock was sold at an average price of $64.08, for a total transaction of $264,009.60. The disclosure for this sale can be found here. Insiders have sold a total of 29,181 shares of company stock valued at $1,844,426 over the last quarter. 0.36% of the stock is currently owned by company insiders.

A number of equities analysts have commented on CMS shares. Barclays boosted their price target on shares of CMS Energy from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 25th. Wells Fargo & Company cut their price target on shares of CMS Energy from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, June 9th. They noted that the move was a valuation call. Zacks Investment Research cut shares of CMS Energy from a “hold” rating to a “sell” rating and set a $64.00 price objective for the company. in a research note on Tuesday, July 13th. Evercore ISI reaffirmed a “hold” rating and issued a $62.00 price objective on shares of CMS Energy in a research note on Friday, July 30th. Finally, Vertical Research cut shares of CMS Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CMS Energy presently has a consensus rating of “Hold” and an average price target of $66.71.

NYSE:CMS traded up $0.21 during midday trading on Wednesday, reaching $63.39. 29,040 shares of the stock traded hands, compared to its average volume of 2,097,061. The company has a fifty day moving average of $62.95 and a 200 day moving average of $61.72. CMS Energy Co. has a 12 month low of $53.19 and a 12 month high of $67.98. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.57 and a current ratio of 0.75. The stock has a market capitalization of $18.36 billion, a P/E ratio of 20.19, a PEG ratio of 3.41 and a beta of 0.19.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Wednesday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.16. CMS Energy had a net margin of 12.85% and a return on equity of 14.38%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.51 billion. On average, analysts predict that CMS Energy Co. will post 2.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Friday, August 6th were issued a dividend of $0.435 per share. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $1.74 dividend on an annualized basis and a yield of 2.74%. CMS Energy’s dividend payout ratio is currently 65.17%.

CMS Energy Profile

CMS Energy Corp. is a holding company, which engages in business through its subsidiaries. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution and sale of electricity.

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

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