1832 Asset Management L.P. Lowers Stock Holdings in CMS Energy Co. (NYSE:CMS)

1832 Asset Management L.P. lessened its stake in CMS Energy Co. (NYSE:CMS) by 42.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 873,370 shares of the utilities provider’s stock after selling 633,310 shares during the quarter. 1832 Asset Management L.P. owned 0.29% of CMS Energy worth $52,699,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its position in CMS Energy by 58.3% during the fourth quarter. SG Americas Securities LLC now owns 27,588 shares of the utilities provider’s stock worth $1,602,000 after buying an additional 10,163 shares during the period. CVA Family Office LLC acquired a new position in CMS Energy during the fourth quarter worth approximately $47,000. Raymond James Financial Services Advisors Inc. increased its position in CMS Energy by 68.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 26,034 shares during the period. Pacer Advisors Inc. increased its holdings in shares of CMS Energy by 161.8% in the fourth quarter. Pacer Advisors Inc. now owns 74,182 shares of the utilities provider’s stock valued at $4,308,000 after purchasing an additional 45,843 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of CMS Energy in the fourth quarter valued at approximately $229,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Price Performance

Shares of NYSE:CMS traded down $0.25 on Friday, hitting $62.96. The company had a trading volume of 1,609,165 shares, compared to its average volume of 1,826,400. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 1.90. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $64.28. The business has a 50 day moving average of $60.66 and a 200 day moving average of $59.44. The company has a market cap of $18.80 billion, a PE ratio of 19.20, a PEG ratio of 2.51 and a beta of 0.38.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, equities analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.24%. CMS Energy’s payout ratio is currently 62.80%.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now directly owns 97,682 shares in the company, valued at $5,968,370.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CMS Energy news, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now directly owns 97,682 shares in the company, valued at $5,968,370.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,027 shares of company stock worth $365,651. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CMS shares. BMO Capital Markets boosted their target price on CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. KeyCorp boosted their target price on CMS Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Scotiabank dropped their target price on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Guggenheim lifted their price target on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley decreased their price target on CMS Energy from $61.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.