Vestcor Inc Sells 3,271 Shares of CMS Energy Co. (NYSE:CMS)

Vestcor Inc trimmed its holdings in shares of CMS Energy Co. (NYSE:CMS) by 26.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,004 shares of the utilities provider’s stock after selling 3,271 shares during the quarter. Vestcor Inc’s holdings in CMS Energy were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CMS. Mackenzie Financial Corp increased its position in shares of CMS Energy by 0.6% during the 2nd quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock valued at $1,511,000 after purchasing an additional 157 shares during the last quarter. Voisard Asset Management Group Inc. increased its holdings in CMS Energy by 25.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 163 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of CMS Energy by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 187 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in CMS Energy by 1.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock worth $1,107,000 after purchasing an additional 200 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in CMS Energy by 25.6% in the third quarter. Private Trust Co. NA now owns 982 shares of the utilities provider’s stock worth $69,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Bank of America increased their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. Wells Fargo & Company increased their price target on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised their price objective on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of CMS Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

Insider Buying and Selling at CMS Energy

In other news, CAO Scott B. Mcintosh sold 936 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the completion of the sale, the chief accounting officer now owns 24,417 shares in the company, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the sale, the senior vice president now owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

CMS Energy Trading Up 0.3 %

CMS opened at $67.05 on Friday. The firm has a market cap of $20.03 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.68 and a beta of 0.41. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The stock has a 50-day moving average of $69.29 and a 200 day moving average of $66.05. CMS Energy Co. has a 12 month low of $55.10 and a 12 month high of $72.40.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. As a group, research analysts forecast that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.515 per share. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.07%. The ex-dividend date was Wednesday, November 13th. CMS Energy’s dividend payout ratio (DPR) is presently 58.86%.

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.