Lord Abbett & CO. LLC Has $88.77 Million Stake in CMS Energy Co. (NYSE:CMS)

Lord Abbett & CO. LLC reduced its stake in shares of CMS Energy Co. (NYSE:CMS) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331,828 shares of the utilities provider’s stock after selling 3,488 shares during the quarter. Lord Abbett & CO. LLC owned 0.45% of CMS Energy worth $88,766,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of CMS Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 38,175,088 shares of the utilities provider’s stock worth $2,544,370,000 after purchasing an additional 316,011 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of CMS Energy by 32.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider’s stock worth $950,227,000 after buying an additional 3,486,074 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of CMS Energy by 28.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,741,389 shares of the utilities provider’s stock valued at $649,264,000 after acquiring an additional 2,131,269 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CMS Energy by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,608,680 shares of the utilities provider’s stock worth $505,869,000 after acquiring an additional 98,910 shares in the last quarter. Finally, Norges Bank bought a new stake in CMS Energy during the 4th quarter worth approximately $171,798,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMS has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on CMS Energy from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday. Barclays upgraded shares of CMS Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $75.00 in a research report on Thursday, February 20th. UBS Group raised their price objective on shares of CMS Energy from $77.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Bank of America increased their price target on shares of CMS Energy from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 24th. Finally, Guggenheim restated a “neutral” rating and issued a $69.00 price objective on shares of CMS Energy in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.73.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $73.77, for a total transaction of $147,540.00. Following the sale, the senior vice president now directly owns 71,931 shares of the company’s stock, valued at $5,306,349.87. The trade was a 2.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Scott B. Mcintosh sold 6,700 shares of CMS Energy stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $69.76, for a total value of $467,392.00. Following the completion of the sale, the chief accounting officer now directly owns 21,643 shares in the company, valued at approximately $1,509,815.68. This represents a 23.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,200 shares of company stock worth $789,532. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Stock Performance

Shares of CMS Energy stock opened at $74.06 on Friday. CMS Energy Co. has a 12 month low of $58.50 and a 12 month high of $76.45. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $22.13 billion, a PE ratio of 22.31, a PEG ratio of 2.56 and a beta of 0.34. The stock’s fifty day simple moving average is $72.67 and its 200 day simple moving average is $69.65.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.13). CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. On average, research analysts predict that CMS Energy Co. will post 3.59 EPS for the current year.

CMS Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 9th will be given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, May 9th. CMS Energy’s dividend payout ratio is presently 65.36%.

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.