AE Wealth Management LLC Raises Stock Position in CMS Energy Co. (NYSE:CMS)

AE Wealth Management LLC raised its holdings in shares of CMS Energy Co. (NYSE:CMS) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,768 shares of the utilities provider’s stock after acquiring an additional 9,562 shares during the quarter. AE Wealth Management LLC owned approximately 0.07% of CMS Energy worth $12,071,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in CMS Energy during the 4th quarter valued at approximately $29,000. Voisard Asset Management Group Inc. purchased a new stake in CMS Energy during the 4th quarter valued at approximately $36,000. TruNorth Capital Management LLC raised its position in shares of CMS Energy by 431.3% during 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 during the last quarter. Headlands Technologies LLC purchased a new position in shares of CMS Energy in the first quarter worth $43,000. Finally, Innealta Capital LLC bought a new position in shares of CMS Energy during the second quarter worth $43,000. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

CMS Energy Stock Up 0.9 %

Shares of CMS opened at $69.84 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $70.74. The company has a market cap of $20.86 billion, a PE ratio of 21.29, a P/E/G ratio of 2.75 and a beta of 0.40. The business has a fifty day moving average of $66.24 and a 200 day moving average of $62.25.

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

CMS Energy Cuts Dividend

The firm also recently announced 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 of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CMS Energy’s dividend payout ratio is 62.80%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMS. Morgan Stanley lifted their price target on shares of CMS Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Guggenheim lifted their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays increased their price target on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 13th. Scotiabank lifted their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, KeyCorp increased their target price on CMS Energy from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.75.

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.