1832 Asset Management L.P. Reduces Stock Position in CMS Energy Co. (NYSE:CMS)

1832 Asset Management L.P. lessened its position in CMS Energy Co. (NYSE:CMS) by 20.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 690,717 shares of the utilities provider’s stock after selling 182,653 shares during the period. 1832 Asset Management L.P. owned 0.23% of CMS Energy worth $41,118,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of CMS Energy in the fourth quarter worth about $29,000. Voisard Asset Management Group Inc. bought a new stake in shares of CMS Energy in the 4th quarter worth approximately $36,000. TruNorth Capital Management LLC grew its position 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 buying an additional 578 shares during the last quarter. Headlands Technologies LLC purchased 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 shares of CMS Energy during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

CMS Energy stock opened at $69.84 on Monday. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $70.74. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $20.86 billion, a P/E ratio of 21.29, a PEG ratio of 2.75 and a beta of 0.40. The stock’s 50 day moving average is $66.24 and its 200 day moving average is $62.29.

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

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 2.92%. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Analysts Set New Price Targets

Several analysts recently weighed in on CMS shares. Barclays lifted their price target on shares of CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Scotiabank boosted their price target on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price target on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, KeyCorp increased their target price on CMS Energy from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.75.

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.