Spirit of America Management Corp NY Acquires 500 Shares of CMS Energy Corporation (NYSE:CMS)

Spirit of America Management Corp NY lifted its holdings in CMS Energy Corporation (NYSE:CMS) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,800 shares of the utilities provider’s stock after acquiring an additional 500 shares during the period. Spirit of America Management Corp NY’s holdings in CMS Energy were worth $1,037,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BankPlus Trust Department bought a new position in shares of CMS Energy in the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its position in shares of CMS Energy by 2,900.0% in the fourth quarter. Larson Financial Group LLC now owns 720 shares of the utilities provider’s stock worth $48,000 after buying an additional 696 shares in the last quarter. Optiver Holding B.V. boosted its stake in CMS Energy by 39.2% during the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider’s stock valued at $54,000 after buying an additional 229 shares during the last quarter. Mizuho Bank Ltd. bought a new position in CMS Energy during the fourth quarter valued at approximately $61,000. Finally, Covestor Ltd boosted its stake in CMS Energy by 51.9% during the fourth quarter. Covestor Ltd now owns 1,065 shares of the utilities provider’s stock valued at $71,000 after buying an additional 364 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,198 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total value of $161,794.78. Following the transaction, the senior vice president now owns 69,571 shares of the company’s stock, valued at $5,121,121.31. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CMS shares. Wall Street Zen lowered CMS Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Wells Fargo & Company boosted their price target on shares of CMS Energy from $78.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. BMO Capital Markets boosted their price target on shares of CMS Energy from $77.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Scotiabank restated an “outperform” rating and issued a $81.00 price target (up previously from $77.00) on shares of CMS Energy in a research report on Friday, April 25th. Finally, Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $75.00 in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.00.

CMS Energy Trading Down 0.5%

Shares of CMS stock opened at $68.75 on Friday. CMS Energy Corporation has a 1 year low of $58.50 and a 1 year high of $76.45. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.06 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $71.25 and its two-hundred day simple moving average is $70.02. The company has a market cap of $20.56 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, April 24th. The utilities provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.06%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Research analysts predict that CMS Energy Corporation will post 3.59 earnings per share for the current year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 9th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.16%. CMS Energy’s dividend payout ratio is 64.39%.

About CMS Energy

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.