Edgestream Partners L.P. Takes $5.17 Million Position in CMS Energy Co. (NYSE:CMS)

Edgestream Partners L.P. acquired a new stake in CMS Energy Co. (NYSE:CMS) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 86,903 shares of the utilities provider’s stock, valued at approximately $5,173,000.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy in the fourth quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of CMS Energy in the fourth quarter valued at $36,000. TruNorth Capital Management LLC raised its stake in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CMS Energy in the first quarter valued at $43,000. Finally, Innealta Capital LLC acquired a new stake in shares of CMS Energy in the second quarter valued at $43,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

CMS Energy Stock Performance

Shares of CMS stock opened at $70.26 on Wednesday. The stock’s 50-day moving average is $65.68 and its two-hundred day moving average is $62.07. The firm has a market cap of $20.98 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.75 and a beta of 0.40. CMS Energy Co. has a 1 year low of $49.87 and a 1 year high of $70.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

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

CMS Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

Wall Street Analysts Forecast Growth

CMS has been the topic of several analyst reports. Scotiabank increased their price objective on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their target price on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays increased their target price on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. KeyCorp increased their target price on CMS Energy from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Monday. Finally, Guggenheim increased their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.75.

CMS Energy Company 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.