Hsbc Holdings PLC Cuts Holdings in CMS Energy Co. (NYSE:CMS)

Hsbc Holdings PLC cut its holdings in CMS Energy Co. (NYSE:CMS) by 36.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,904 shares of the utilities provider’s stock after selling 424,262 shares during the quarter. Hsbc Holdings PLC owned 0.24% of CMS Energy worth $43,428,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of CMS Energy during the 4th quarter worth $29,000. Voisard Asset Management Group Inc. acquired a new position in CMS Energy during the fourth quarter worth about $36,000. TruNorth Capital Management LLC increased its holdings in CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CMS Energy during the 1st quarter valued at approximately $43,000. Finally, Innealta Capital LLC purchased a new stake in shares of CMS Energy during the 2nd quarter worth 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 Friday. The stock has a fifty day moving average price of $66.24 and a 200 day moving average price of $62.25. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $70.74. The firm 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 company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current 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 paid 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 2.92%. CMS Energy’s dividend payout ratio is presently 62.80%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Scotiabank raised their price objective on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp lifted their price target on CMS Energy from $68.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on shares of CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays lifted their target price on shares of CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley raised their price objective on shares of CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus price target 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.