Truist Financial Corp Reduces Stock Position in CMS Energy Corporation $CMS

Truist Financial Corp trimmed its position in CMS Energy Corporation (NYSE:CMS) by 58.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 720,819 shares of the utilities provider’s stock after selling 993,432 shares during the quarter. Truist Financial Corp owned about 0.24% of CMS Energy worth $52,807,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CMS. Bison Wealth LLC acquired a new stake in CMS Energy during the 4th quarter valued at approximately $312,000. Integrated Wealth Concepts LLC purchased a new position in shares of CMS Energy during the first quarter worth $293,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CMS Energy by 10.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,638 shares of the utilities provider’s stock valued at $2,602,000 after purchasing an additional 3,367 shares during the last quarter. Empowered Funds LLC raised its stake in shares of CMS Energy by 22.0% during the 1st quarter. Empowered Funds LLC now owns 6,788 shares of the utilities provider’s stock valued at $510,000 after buying an additional 1,226 shares during the last quarter. Finally, Woodline Partners LP raised its stake in shares of CMS Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 25,243 shares of the utilities provider’s stock valued at $1,896,000 after buying an additional 7,300 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company dropped their target price on CMS Energy from $77.00 to $74.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. UBS Group cut their target price on shares of CMS Energy from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Barclays lowered their price target on shares of CMS Energy from $82.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Wall Street Zen lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.25.

CMS Energy Stock Down 1.3%

Shares of NYSE CMS opened at $70.86 on Friday. The firm has a market cap of $21.57 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company’s 50-day simple moving average is $71.16 and its 200-day simple moving average is $72.19. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 1.84. CMS Energy Corporation has a 52-week low of $65.17 and a 52-week high of $76.45.

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

Insider Buying and Selling

In other CMS Energy news, SVP Brandon J. Hofmeister sold 4,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $72.47, for a total value of $289,880.00. Following the transaction, the senior vice president owned 64,259 shares in the company, valued at approximately $4,656,849.73. This trade represents a 5.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

CMS Energy 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.