CMS Energy Co. (NYSE:CMS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in CMS Energy Co. (NYSE:CMS) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 884,878 shares of the utilities provider’s stock after acquiring an additional 109,424 shares during the period. Envestnet Asset Management Inc. owned approximately 0.30% of CMS Energy worth $52,677,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Principal Securities Inc. acquired a new position in CMS Energy during the 4th quarter valued at about $61,000. Dimensional Fund Advisors LP increased its stake in CMS Energy by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,851 shares of the utilities provider’s stock valued at $60,326,000 after buying an additional 18,636 shares during the period. Norges Bank acquired a new position in CMS Energy during the 4th quarter valued at about $111,004,000. UBS Group AG increased its stake in CMS Energy by 109.4% during the 4th quarter. UBS Group AG now owns 1,077,075 shares of the utilities provider’s stock valued at $62,546,000 after buying an additional 562,600 shares during the period. Finally, Corient Private Wealth LLC increased its stake in CMS Energy by 9.4% during the 4th quarter. Corient Private Wealth LLC now owns 53,385 shares of the utilities provider’s stock valued at $3,100,000 after buying an additional 4,595 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

Analyst Upgrades and Downgrades

CMS has been the topic of several research analyst reports. Guggenheim raised their target price on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Bank of America raised their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Barclays raised their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.75.

CMS Energy Stock Performance

CMS stock opened at $70.00 on Thursday. The firm has a 50 day simple moving average of $65.90 and a 200 day simple moving average of $62.13. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $70.74. The stock has a market cap of $20.90 billion, a P/E ratio of 21.34, a P/E/G ratio of 2.75 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company posted $0.75 EPS. CMS Energy’s revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. CMS Energy’s dividend payout ratio is 62.80%.

About CMS Energy

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.