Benjamin Edwards Inc. Reduces Position in CMS Energy Co. (NYSE:CMS)

Benjamin Edwards Inc. trimmed its position in CMS Energy Co. (NYSE:CMS) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,370 shares of the utilities provider’s stock after selling 1,327 shares during the quarter. Benjamin Edwards Inc.’s holdings in CMS Energy were worth $2,999,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC grew its position in CMS Energy by 0.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider’s stock valued at $1,228,000 after acquiring an additional 192 shares during the last quarter. Continuum Advisory LLC grew its position in CMS Energy by 9.6% during the second quarter. Continuum Advisory LLC now owns 2,330 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 205 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in CMS Energy by 6.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,767 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 236 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of CMS Energy by 19.8% in the fourth quarter. Parallel Advisors LLC now owns 1,458 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 241 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of CMS Energy by 6.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,201 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 265 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Price Performance

CMS opened at $69.23 on Friday. The stock has a 50-day moving average price of $66.07 and a 200-day moving average price of $62.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The firm has a market cap of $20.67 billion, a PE ratio of 21.11, a P/E/G ratio of 2.75 and a beta of 0.40. CMS Energy Co. has a 1 year low of $49.87 and a 1 year high of $70.74.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.75 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. CMS Energy’s payout ratio is currently 62.80%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMS. Guggenheim raised their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Scotiabank raised their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays raised their target price on shares of CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Finally, Bank of America raised their target price on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.75.

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.