First Citizens Bank & Trust Co. Lowers Stake in CMS Energy Corporation $CMS

First Citizens Bank & Trust Co. decreased its position in CMS Energy Corporation (NYSE:CMS) by 96.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,479 shares of the utilities provider’s stock after selling 82,845 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in CMS Energy were worth $255,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. HM Payson & Co. grew its stake in shares of CMS Energy by 65.6% in the third quarter. HM Payson & Co. now owns 356 shares of the utilities provider’s stock valued at $26,000 after buying an additional 141 shares in the last quarter. First Horizon Corp purchased a new position in CMS Energy during the 3rd quarter valued at about $26,000. Covestor Ltd grew its position in CMS Energy by 52.0% in the 3rd quarter. Covestor Ltd now owns 424 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 145 shares in the last quarter. Trust Co. of Vermont increased its stake in CMS Energy by 127.7% during the second quarter. Trust Co. of Vermont now owns 535 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 300 shares during the period. Finally, Tobam increased its stake in CMS Energy by 35.0% during the second quarter. Tobam now owns 559 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 145 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

CMS Energy Trading Down 0.3%

NYSE CMS opened at $71.85 on Thursday. CMS Energy Corporation has a 12 month low of $65.17 and a 12 month high of $76.45. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.90 and a quick ratio of 0.60. The firm’s fifty day moving average price is $71.21 and its 200 day moving average price is $72.20.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, October 30th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. CMS Energy had a return on equity of 12.10% and a net margin of 12.62%.The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company posted $0.84 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that CMS Energy Corporation will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of CMS Energy from $79.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday. Barclays dropped their price target on shares of CMS Energy from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CMS Energy in a research note on Wednesday, January 21st. Morgan Stanley reissued an “underperform” rating on shares of CMS Energy in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. upped their price target on CMS Energy from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CMS Energy currently has an average rating of “Moderate Buy” and an average target price of $77.25.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $72.47, for a total transaction of $289,880.00. Following the transaction, the senior vice president owned 64,259 shares in the company, valued at $4,656,849.73. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by company insiders.

CMS Energy Company Profile

CMS Energy (NYSE: CMS) is an energy company based in Jackson, Michigan, whose principal business is the regulated utility operations of its subsidiary, Consumers Energy. The company is primarily focused on providing electric and natural gas service to customers in Michigan, operating the generation, transmission and distribution infrastructure necessary to deliver energy to residential, commercial and industrial customers. Headquartered in Jackson, CMS Energy conducts its core activities within the state and is regulated by state utility authorities.

Through Consumers Energy and related subsidiaries, CMS Energy develops, owns and operates a portfolio of generation assets and delivers a range of customer-facing services, including electricity and natural gas supply, grid management, energy efficiency programs and demand-response offerings.