NewEdge Advisors LLC Reduces Position in CMS Energy Co. (NYSE:CMS)

NewEdge Advisors LLC trimmed its position in CMS Energy Co. (NYSE:CMS) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,511 shares of the utilities provider’s stock after selling 3,049 shares during the period. NewEdge Advisors LLC’s holdings in CMS Energy were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in CMS Energy during the 4th quarter worth about $29,000. Voisard Asset Management Group Inc. purchased a new position in CMS Energy in the 4th quarter valued at $36,000. TruNorth Capital Management LLC lifted its stake in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new position in CMS Energy during the first quarter worth $43,000. Finally, Innealta Capital LLC acquired a new position in shares of CMS Energy during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

NYSE:CMS opened at $71.22 on Friday. The firm has a market capitalization of $21.27 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.80 and a beta of 0.41. 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 business’s fifty day moving average price is $68.00 and its 200 day moving average price is $63.07. CMS Energy Co. has a 12 month low of $50.70 and a 12 month high of $71.57.

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

CMS Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 2nd. CMS Energy’s payout ratio is 62.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. 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 note on Tuesday, August 13th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. StockNews.com raised shares of CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, KeyCorp upped their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and a consensus target price of $69.38.

CMS Energy Company 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.