CMS Energy Co. (NYSE:CMS) Position Lifted by abrdn plc

abrdn plc increased its position in CMS Energy Co. (NYSE:CMS) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 980,651 shares of the utilities provider’s stock after purchasing an additional 12,550 shares during the period. abrdn plc owned 0.33% of CMS Energy worth $65,056,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. lifted its stake in CMS Energy by 10.6% in the third quarter. Meeder Advisory Services Inc. now owns 11,925 shares of the utilities provider’s stock valued at $842,000 after buying an additional 1,147 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of CMS Energy by 6.2% in the second quarter. Cetera Investment Advisers now owns 27,850 shares of the utilities provider’s stock valued at $1,658,000 after acquiring an additional 1,631 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in CMS Energy in the fourth quarter worth approximately $333,000. Mizuho Securities USA LLC boosted its position in shares of CMS Energy by 992.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 251,525 shares of the utilities provider’s stock valued at $18,075,000 after purchasing an additional 228,501 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of CMS Energy by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after purchasing an additional 719,093 shares during the period. 93.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CMS. BMO Capital Markets decreased their price target on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of CMS Energy in a research report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, CMS Energy currently has an average rating of “Moderate Buy” and an average price target of $71.00.

CMS Energy Stock Performance

NYSE:CMS opened at $66.18 on Wednesday. The firm has a market capitalization of $19.78 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 2.39 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. The stock’s 50-day simple moving average is $66.99 and its 200 day simple moving average is $67.76. CMS Energy Co. has a twelve month low of $55.10 and a twelve month high of $72.40.

Insider Activity at CMS Energy

In other news, Director John G. Russell sold 28,750 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the sale, the director now owns 144,059 shares in the company, valued at $9,486,285.15. This represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at $4,415,439.07. The trade was a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,686 shares of company stock worth $2,228,084 over the last three months. Company insiders own 0.53% of the company’s stock.

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.