Toronto Dominion Bank Grows Stock Position in CMS Energy Co. (NYSE:CMS)

Toronto Dominion Bank grew its holdings in CMS Energy Co. (NYSE:CMS) by 60.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,661 shares of the utilities provider’s stock after purchasing an additional 56,884 shares during the period. Toronto Dominion Bank owned approximately 0.05% of CMS Energy worth $9,028,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in shares of CMS Energy in the 4th quarter worth $29,000. Voisard Asset Management Group Inc. bought a new stake in CMS Energy in the 4th quarter worth $36,000. TruNorth Capital Management LLC increased its holdings in CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the period. Headlands Technologies LLC bought a new position in shares of CMS Energy during the first quarter valued at approximately $43,000. Finally, Innealta Capital LLC bought a new position in CMS Energy in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CMS. Bank of America raised their price objective on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays increased their price target on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. StockNews.com raised shares of CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Scotiabank boosted their price target on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, KeyCorp increased their price target on CMS Energy from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.17.

CMS Energy Stock Performance

NYSE:CMS opened at $70.43 on Friday. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $71.02. The company has a market cap of $21.03 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.80 and a beta of 0.40. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company’s 50-day moving average price is $66.94 and its 200-day moving average price is $62.53.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share 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 company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

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

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.