Truist Financial Corp Buys 169,160 Shares of CMS Energy Co. (NYSE:CMS)

Truist Financial Corp lifted its stake in shares of CMS Energy Co. (NYSE:CMS) by 29.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 735,233 shares of the utilities provider’s stock after acquiring an additional 169,160 shares during the period. Truist Financial Corp’s holdings in CMS Energy were worth $43,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in CMS Energy by 118.0% during the second quarter. Quarry LP now owns 3,325 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 1,800 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in CMS Energy by 6.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 313,493 shares of the utilities provider’s stock worth $18,662,000 after buying an additional 19,349 shares during the last quarter. Mackenzie Financial Corp boosted 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 worth $1,511,000 after buying an additional 157 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in CMS Energy by 16.4% during the second quarter. The Manufacturers Life Insurance Company now owns 187,111 shares of the utilities provider’s stock valued at $11,139,000 after acquiring an additional 26,379 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in shares of CMS Energy during the second quarter worth approximately $1,236,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Trading Up 0.3 %

CMS opened at $71.25 on Thursday. The stock has a market cap of $21.28 billion, a PE ratio of 21.72, a PEG ratio of 2.80 and a beta of 0.40. The business has a 50 day moving average of $67.67 and a 200-day moving average of $62.89. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $71.48. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were paid a $0.51 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. CMS Energy’s dividend payout ratio is currently 62.80%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI raised shares of CMS Energy to a “hold” rating in a report on Friday, July 26th. Guggenheim raised their price objective on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Mizuho boosted their target price on CMS Energy from $65.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley raised their price target on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, KeyCorp boosted their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.38.

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.