Sumitomo Life Insurance Co. Has $739,000 Stock Holdings in CMS Energy Co. (NYSE:CMS)

Sumitomo Life Insurance Co. lowered its stake in CMS Energy Co. (NYSE:CMS) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,087 shares of the utilities provider’s stock after selling 402 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in CMS Energy were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CMS. Mackenzie Financial Corp grew its stake in CMS Energy by 0.6% in the second 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 in the last quarter. Voisard Asset Management Group Inc. boosted its holdings in shares of CMS Energy by 25.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after buying an additional 163 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of CMS Energy by 4.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,459 shares of the utilities provider’s stock valued at $297,000 after buying an additional 173 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in CMS Energy by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider’s stock worth $256,000 after buying an additional 187 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in CMS Energy by 1.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider’s stock worth $1,107,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Stock Performance

NYSE CMS opened at $65.83 on Thursday. The firm has a 50-day moving average price of $67.24 and a two-hundred day moving average price of $67.63. CMS Energy Co. has a 12-month low of $55.10 and a 12-month high of $72.40. The company has a market capitalization of $19.67 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.46 and a beta of 0.42. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

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

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John G. Russell sold 28,750 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the transaction, the director now owns 144,059 shares of the company’s stock, valued at approximately $9,486,285.15. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,686 shares of company stock worth $2,228,084. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMS. Barclays lifted their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Guggenheim downgraded CMS Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Scotiabank raised their price target on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

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.