Ameriprise Financial Inc. Increases Stock Holdings in CMS Energy Co. (NYSE:CMS)

Ameriprise Financial Inc. raised its stake in CMS Energy Co. (NYSE:CMS) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,854,102 shares of the utilities provider’s stock after purchasing an additional 257,872 shares during the period. Ameriprise Financial Inc. owned 2.35% of CMS Energy worth $419,975,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Covington Capital Management purchased a new position in CMS Energy in the third quarter valued at approximately $27,000. Pinebridge Investments L.P. acquired a new stake in shares of CMS Energy in the fourth quarter valued at approximately $29,000. Spirit of America Management Corp NY acquired a new stake in shares of CMS Energy in the first quarter valued at approximately $34,000. Clear Street Markets LLC boosted its holdings in shares of CMS Energy by 94.9% in the first quarter. Clear Street Markets LLC now owns 573 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 279 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of CMS Energy in the first quarter valued at approximately $37,000. 95.98% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Price Performance

CMS Energy stock opened at $57.25 on Friday. CMS Energy Co. has a one year low of $52.41 and a one year high of $68.36. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.63 and a current ratio of 0.95. The business has a fifty day moving average of $58.29 and a two-hundred day moving average of $59.53. The company has a market cap of $16.70 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.30 and a beta of 0.37.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. CMS Energy had a return on equity of 10.38% and a net margin of 9.07%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. As a group, analysts predict that CMS Energy Co. will post 3.1 earnings per share for the current fiscal year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Friday, August 4th were given a dividend of $0.4875 per share. This represents a $1.95 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, August 3rd. CMS Energy’s dividend payout ratio is presently 78.00%.

Insider Buying and Selling

In related news, Director Jon E. Barfield sold 2,345 shares of CMS Energy stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $56.06, for a total transaction of $131,460.70. Following the completion of the sale, the director now owns 13,982 shares in the company, valued at approximately $783,830.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.27, for a total transaction of $93,802.09. Following the completion of the sale, the senior vice president now owns 61,765 shares in the company, valued at approximately $3,475,516.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jon E. Barfield sold 2,345 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $56.06, for a total value of $131,460.70. Following the completion of the sale, the director now directly owns 13,982 shares in the company, valued at $783,830.92. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMS. Barclays began coverage on CMS Energy in a report on Wednesday, August 23rd. They issued an “equal weight” rating and a $58.00 price objective for the company. Royal Bank of Canada decreased their price target on CMS Energy from $71.00 to $64.00 and set a “sector perform” rating for the company in a report on Wednesday, September 6th. UBS Group raised CMS Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $63.00 to $68.00 in a report on Tuesday, June 6th. Argus decreased their price target on CMS Energy from $75.00 to $62.00 in a report on Monday, June 26th. Finally, Mizuho decreased their price target on CMS Energy from $68.00 to $65.00 in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.73.

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.