ING Groep NV Sells 233 Shares of CMS Energy Co. (NYSE:CMS)

ING Groep NV lowered its position in shares of CMS Energy Co. (NYSE:CMS) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,952 shares of the utilities provider’s stock after selling 233 shares during the period. ING Groep NV’s holdings in CMS Energy were worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd increased its position in CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after buying an additional 472 shares during the period. TruNorth Capital Management LLC grew 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 valued at $42,000 after acquiring an additional 578 shares in the last quarter. Headlands Technologies LLC bought a new position in CMS Energy during the first quarter worth about $43,000. Innealta Capital LLC acquired a new stake in CMS Energy in the 2nd quarter worth about $43,000. Finally, Values First Advisors Inc. bought a new stake in CMS Energy in the 3rd quarter valued at about $56,000. 93.57% of the stock is owned by institutional investors and hedge funds.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $68.23 on Friday. CMS Energy Co. has a one year low of $55.10 and a one year high of $72.40. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. The company has a market cap of $20.39 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.70 and a beta of 0.41. The firm has a 50 day simple moving average of $69.78 and a 200 day simple moving average of $65.21.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. CMS Energy’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. Research analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 annualized dividend and a dividend yield of 3.02%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 58.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CMS shares. Morgan Stanley lifted their price target on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. KeyCorp boosted their price target on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group initiated coverage on shares of CMS Energy in a report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.29.

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.