JPMorgan Chase & Co. has increased its ownership stake in CMS Energy Co. by 4.1% in the first quarter of this year, according to a recent disclosure with the Securities and Exchange Commission. The institutional investor now owns 19,660,375 shares of CMS Energy, representing 6.74% of the company’s total shares. The market value of their stake is estimated to be $1,206,753,000. This move by JPMorgan Chase & Co. follows several other hedge funds and institutional investors who have also recently bought and sold shares of CMS Energy.
One such investor is Covington Capital Management, which purchased a new stake in CMS Energy during the third quarter of last year. Spirit of America Management Corp NY and Clear Street Markets LLC also acquired new positions during the first quarter of this year. Householder Group Estate & Retirement Specialist LLC made a similar move during this time period.
CMS Energy has received attention from various analysts. Mizuho, for example, reduced their price target on CMS Energy stock from $68.00 to $65.00. StockNews.com issued a “sell” rating on the stock, while UBS Group upgraded CMS Energy from a “neutral” rating to a “buy” rating. Barclays initiated coverage on CMS Energy and set an “equal weight” rating on the stock. Argus, on the other hand, reduced their price target from $75.00 to $62.00.
CMS Energy’s recent news also includes a director, Jon E. Barfield, who sold 2,345 shares of the company’s stock. The shares were sold at an average price of $56.06, for a total value of $131,460.70. After the sale, Barfield still owns 13,982 shares of CMS Energy, valued at approximately $783,830.92. Insiders currently own 0.40% of the company’s stock.
CMS Energy, which operates as an energy company primarily in Michigan, recently issued a quarterly dividend of $0.4875 per share. The dividend was paid on August 31st to shareholders of record on August 4th. CMS Energy is involved in the generation, transmission, distribution, and sale of electricity and operates through three segments: Electric Utility, Gas Utility, and Enterprises.
In conclusion, JPMorgan Chase & Co. has increased its stake in CMS Energy Co., following the footsteps of other investors. Analyst reports on CMS Energy have been mixed, with the stock currently having an average rating of “Moderate Buy.” CMS Energy has also recently declared a dividend of $0.4875 per share.
Source: claytoncountyregister.com
