Jennison Associates LLC Sells 27,892 Shares of CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC lowered its position in CMS Energy Co. (NYSE:CMS) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,931,605 shares of the utilities provider’s stock after selling 27,892 shares during the period. Jennison Associates LLC owned 0.65% of CMS Energy worth $128,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James & Associates lifted its stake in shares of CMS Energy by 310.2% during the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock valued at $79,519,000 after acquiring an additional 851,364 shares during the period. Massachusetts Financial Services Co. MA increased its position in CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock worth $537,503,000 after purchasing an additional 719,093 shares during the period. National Bank of Canada FI raised its holdings in CMS Energy by 404.8% during the 3rd quarter. National Bank of Canada FI now owns 892,734 shares of the utilities provider’s stock worth $63,053,000 after purchasing an additional 715,891 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in CMS Energy by 760.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 700,135 shares of the utilities provider’s stock valued at $46,664,000 after purchasing an additional 618,767 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of CMS Energy by 552.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 566,025 shares of the utilities provider’s stock valued at $39,978,000 after purchasing an additional 479,336 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CMS Energy

In other news, Director John G. Russell sold 28,750 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the transaction, the director now owns 144,059 shares in the company, valued at $9,486,285.15. This trade represents a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.22, for a total value of $134,440.00. Following the sale, the senior vice president now owns 63,197 shares in the company, valued at $4,248,102.34. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,686 shares of company stock worth $2,228,084. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CMS shares. Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Scotiabank upped their target price on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Barclays raised their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Guggenheim lowered CMS Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their target price on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

CMS Energy Stock Performance

Shares of CMS opened at $66.00 on Monday. The firm’s 50 day moving average price is $67.06 and its two-hundred day moving average price is $67.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. CMS Energy Co. has a twelve month low of $55.10 and a twelve month high of $72.40. The firm has a market cap of $19.72 billion, a P/E ratio of 18.86, a PEG ratio of 2.39 and a beta of 0.42.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts forecast that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

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.