Illinois Municipal Retirement Fund Purchases 7,188 Shares of CMS Energy Co. (NYSE:CMS)

Illinois Municipal Retirement Fund raised its position in CMS Energy Co. (NYSE:CMS) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 203,564 shares of the utilities provider’s stock after buying an additional 7,188 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of CMS Energy worth $11,821,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of CMS Energy by 7.3% in the 3rd 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 during the last quarter. abrdn plc boosted its position in shares of CMS Energy by 1.9% in the 3rd 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 during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of CMS Energy by 23.0% in the 3rd 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 during the last quarter. Ceredex Value Advisors LLC boosted its position in shares of CMS Energy by 6.1% in the 3rd 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 during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of CMS Energy by 1.5% in the 3rd 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 during the last quarter. 93.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CMS. Seaport Res Ptn downgraded CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. lifted their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Wolfe Research raised CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Tuesday, January 16th. UBS Group downgraded CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Thursday, April 4th. Finally, BMO Capital Markets lifted their price target on CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

CMS Energy Stock Performance

Shares of NYSE:CMS traded up $0.34 during trading on Tuesday, reaching $60.34. 941,400 shares of the stock were exchanged, compared to its average volume of 2,416,448. CMS Energy Co. has a 12 month low of $49.87 and a 12 month high of $63.76. The firm has a market cap of $18.02 billion, a PE ratio of 19.93, a PEG ratio of 2.31 and a beta of 0.38. The stock has a 50-day moving average price of $58.50 and a 200-day moving average price of $57.29. 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 (NYSE:CMS) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue was down 14.4% on a year-over-year basis. Research analysts expect that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.41%. CMS Energy’s payout ratio is 68.44%.

Insider Activity

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

CMS Energy 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.