CMS Energy Co. (NYSE:CMS) Position Reduced by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its stake in shares of CMS Energy Co. (NYSE:CMS) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,697 shares of the utilities provider’s stock after selling 336 shares during the period. Eventide Asset Management LLC’s holdings in CMS Energy were worth $8,807,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after buying an additional 275 shares during the last quarter. Brooklyn Investment Group acquired a new stake in CMS Energy during the third quarter worth about $40,000. Covestor Ltd lifted its holdings in CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares during the last quarter. TruNorth Capital Management LLC boosted its stake 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 acquiring an additional 578 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of CMS Energy during the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

Insider Activity at CMS Energy

In other news, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at $1,672,564.50. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the transaction, the senior vice president now owns 64,771 shares of the company’s stock, valued at $4,415,439.07. This trade represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

CMS Energy Stock Performance

Shares of NYSE CMS opened at $69.74 on Friday. CMS Energy Co. has a 1 year low of $55.10 and a 1 year high of $72.40. The firm has a market cap of $20.84 billion, a P/E ratio of 19.93, a PEG ratio of 2.81 and a beta of 0.41. The stock has a fifty day moving average price of $69.74 and a two-hundred day moving average price of $65.73. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23.

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

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Wednesday, November 13th. CMS Energy’s payout ratio is presently 58.86%.

Analysts Set New Price Targets

CMS has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on CMS Energy in a report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target on the stock. Barclays boosted their price target on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Morgan Stanley dropped their price objective on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Bank of America boosted their target price on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.21.

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.