Renaissance Technologies LLC Has $45.67 Million Holdings in CMS Energy Co. (NYSE:CMS)

Renaissance Technologies LLC lifted its stake in shares of CMS Energy Co. (NYSE:CMS) by 155.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 767,100 shares of the utilities provider’s stock after purchasing an additional 466,500 shares during the period. Renaissance Technologies LLC owned approximately 0.26% of CMS Energy worth $45,665,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CMS. JPMorgan Chase & Co. boosted its position in CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after buying an additional 2,786,071 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in CMS Energy by 101.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after acquiring an additional 3,473,977 shares during the last quarter. Capital International Investors increased its position in CMS Energy by 24.8% in the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock worth $360,537,000 after purchasing an additional 1,234,791 shares during the period. Capital Research Global Investors raised its holdings in CMS Energy by 1.2% during the 4th quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after purchasing an additional 65,966 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock valued at $250,026,000 after purchasing an additional 3,282,697 shares during the period. 93.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMS shares. Barclays lifted their price target 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. Bank of America upped their target price on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank increased their price target 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. Guggenheim lifted their price objective on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.75.

CMS Energy Price Performance

Shares of CMS opened at $70.26 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The firm has a market capitalization of $20.98 billion, a PE ratio of 21.42, a P/E/G ratio of 2.75 and a beta of 0.40. The stock has a 50 day simple moving average of $65.68 and a 200 day simple moving average of $62.07. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $70.74.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data 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 company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Sell-side analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s dividend payout ratio is presently 62.80%.

About CMS Energy

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.