Envestnet Asset Management Inc. Raises Position in CMS Energy Co. (NYSE:CMS)

Envestnet Asset Management Inc. grew its holdings in shares of CMS Energy Co. (NYSE:CMSGet Rating) by 6.4% during the first quarter, HoldingsChannel reports. The firm owned 366,526 shares of the utilities provider’s stock after purchasing an additional 22,170 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CMS Energy were worth $25,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of CMS Energy by 18.6% during the 1st quarter. Parallel Advisors LLC now owns 2,300 shares of the utilities provider’s stock worth $161,000 after buying an additional 361 shares during the last quarter. State Street Corp increased its holdings in shares of CMS Energy by 0.3% during the 4th quarter. State Street Corp now owns 14,718,646 shares of the utilities provider’s stock worth $957,448,000 after buying an additional 39,112 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of CMS Energy by 3.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,432 shares of the utilities provider’s stock worth $3,280,000 after buying an additional 1,696 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of CMS Energy by 2.8% during the 4th quarter. Fifth Third Bancorp now owns 87,034 shares of the utilities provider’s stock worth $5,662,000 after buying an additional 2,400 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of CMS Energy during the 1st quarter worth $685,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets lowered their price target on CMS Energy from $80.00 to $71.00 and set an “outperform” rating for the company in a report on Monday, June 27th. Barclays lowered their price target on CMS Energy from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Morgan Stanley lowered their price target on CMS Energy from $66.00 to $59.00 and set an “equal weight” rating for the company in a report on Thursday, June 23rd. Mizuho lowered their price target on CMS Energy from $74.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Finally, Credit Suisse Group initiated coverage on CMS Energy in a report on Monday, April 25th. They issued a “neutral” rating and a $76.00 price target for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.00.

CMS Energy Stock Performance

Shares of CMS stock opened at $69.03 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.65 and a current ratio of 1.00. CMS Energy Co. has a one year low of $58.51 and a one year high of $73.76. The company’s 50-day simple moving average is $66.92 and its 200-day simple moving average is $67.02. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.94 and a beta of 0.27.

CMS Energy (NYSE:CMSGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. CMS Energy had a net margin of 16.50% and a return on equity of 11.43%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities analysts anticipate that CMS Energy Co. will post 2.89 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Friday, August 5th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 4th. This represents a $1.84 annualized dividend and a dividend yield of 2.67%. CMS Energy’s payout ratio is 40.44%.

Insider Transactions at CMS Energy

In other news, SVP Dhenuvakonda Rao Venkat sold 1,000 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $69.20, for a total transaction of $69,200.00. Following the transaction, the senior vice president now owns 35,241 shares of the company’s stock, valued at $2,438,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CMS Energy news, SVP Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $69.20, for a total value of $69,200.00. Following the transaction, the senior vice president now owns 35,241 shares of the company’s stock, valued at $2,438,677.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott B. Mcintosh sold 703 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $71.21, for a total transaction of $50,060.63. Following the completion of the transaction, the chief accounting officer now directly owns 24,196 shares in the company, valued at approximately $1,722,997.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,706 shares of company stock valued at $257,120. Insiders own 0.40% of the company’s stock.

CMS Energy Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for CMS Energy (NYSE:CMS)

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