Jennison Associates LLC Sells 91,485 Shares of CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC decreased its position in shares of CMS Energy Co. (NYSE:CMS) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,959,497 shares of the utilities provider’s stock after selling 91,485 shares during the quarter. Jennison Associates LLC owned about 0.66% of CMS Energy worth $138,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in CMS Energy by 101.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after purchasing an additional 3,473,977 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in CMS Energy by 105.9% during the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after buying an additional 800,344 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in CMS Energy by 46.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock valued at $79,275,000 after buying an additional 421,059 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CMS Energy by 22.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider’s stock valued at $76,292,000 after acquiring an additional 233,633 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in CMS Energy by 310.2% during the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after acquiring an additional 851,364 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

Insider Activity

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the transaction, the senior vice president now directly owns 64,771 shares in the company, valued at $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CMS has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Guggenheim increased their price target on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America raised their target price on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets decreased their price objective 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. Finally, Evercore ISI upgraded CMS Energy to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and an average price target of $70.29.

CMS Energy Stock Performance

CMS Energy stock opened at $68.57 on Wednesday. The firm’s 50 day simple moving average is $69.75 and its 200 day simple moving average is $65.38. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. CMS Energy Co. has a 1-year low of $55.10 and a 1-year high of $72.40. The firm has a market capitalization of $20.49 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.72 and a beta of 0.41.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.00%. CMS Energy’s payout ratio is presently 58.86%.

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.