CMS Energy Co. (NYSE:CMS) Position Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its holdings in CMS Energy Co. (NYSE:CMS) by 7.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 20,811 shares of the utilities provider’s stock after selling 1,693 shares during the period. Kentucky Retirement Systems’ holdings in CMS Energy were worth $1,470,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its holdings in CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares during the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of CMS Energy by 431.3% in the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 578 shares during the last quarter. Innealta Capital LLC acquired a new position in CMS Energy during the 2nd quarter valued at approximately $43,000. Values First Advisors Inc. bought a new position in CMS Energy during the 3rd quarter worth $56,000. Finally, Voisard Asset Management Group Inc. lifted its stake in CMS Energy by 25.7% in the third quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after buying an additional 163 shares during the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

CMS Energy Stock Up 0.4 %

Shares of CMS Energy stock opened at $68.50 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86. CMS Energy Co. has a 12-month low of $55.10 and a 12-month high of $72.40. The firm has a market capitalization of $20.47 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.72 and a beta of 0.41. The stock’s fifty day moving average is $69.77 and its 200-day moving average is $65.33.

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

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is presently 58.86%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CMS shares. Morgan Stanley increased their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Finally, Barclays lifted their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.29.

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.