CMS Energy Co. (NYSE:CMS) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its stake in CMS Energy Co. (NYSE:CMS) by 81.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,007 shares of the utilities provider’s stock after selling 256,304 shares during the period. Panagora Asset Management Inc.’s holdings in CMS Energy were worth $3,394,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CMS Energy by 16.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,708 shares of the utilities provider’s stock valued at $4,150,000 after buying an additional 9,756 shares during the last quarter. Whittier Trust Co. boosted its position in CMS Energy by 22.8% in the 2nd quarter. Whittier Trust Co. now owns 9,249 shares of the utilities provider’s stock valued at $550,000 after buying an additional 1,715 shares during the last quarter. HB Wealth Management LLC boosted its position in CMS Energy by 2.5% in the 2nd quarter. HB Wealth Management LLC now owns 19,621 shares of the utilities provider’s stock valued at $1,168,000 after buying an additional 477 shares during the last quarter. Railway Pension Investments Ltd purchased a new position in CMS Energy in the 2nd quarter valued at about $47,082,000. Finally, Allspring Global Investments Holdings LLC boosted its position in CMS Energy by 2.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259,050 shares of the utilities provider’s stock valued at $15,421,000 after buying an additional 6,521 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

CMS Energy Stock Performance

NYSE:CMS traded up $0.19 during midday trading on Friday, reaching $67.86. 1,825,936 shares of the company traded hands, compared to its average volume of 2,307,950. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $68.08. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The company has a fifty day moving average price of $62.97 and a 200 day moving average price of $60.88. The firm has a market capitalization of $20.27 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.64 and a beta of 0.38.

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

CMS Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. Guggenheim raised their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Morgan Stanley upped their target price on shares of CMS Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. KeyCorp lifted their price target on CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.33.

Insider Buying and Selling

In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the transaction, the director now owns 14,556 shares in the company, valued at approximately $884,859.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the sale, the director now directly owns 14,556 shares in the company, valued at approximately $884,859.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares of the company’s stock, valued at $4,098,433.40. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.