Cibc World Markets Corp cut its position in CMS Energy Co. (NYSE:CMS – Get Rating) by 78.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,403 shares of the utilities provider’s stock after selling 15,851 shares during the period. Cibc World Markets Corp’s holdings in CMS Energy were worth $256,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Ergoteles LLC grew its holdings in CMS Energy by 21.3% during the third quarter. Ergoteles LLC now owns 18,152 shares of the utilities provider’s stock worth $1,057,000 after acquiring an additional 3,185 shares during the period. Centiva Capital LP acquired a new stake in CMS Energy during the third quarter worth about $814,000. Bahl & Gaynor Inc. grew its holdings in CMS Energy by 89.2% during the third quarter. Bahl & Gaynor Inc. now owns 51,003 shares of the utilities provider’s stock worth $2,970,000 after acquiring an additional 24,045 shares during the period. MML Investors Services LLC grew its holdings in CMS Energy by 28.7% during the third quarter. MML Investors Services LLC now owns 11,209 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 2,499 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in CMS Energy by 53.0% during the third quarter. Nuveen Asset Management LLC now owns 1,163,992 shares of the utilities provider’s stock worth $67,792,000 after acquiring an additional 403,342 shares during the period. 92.16% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other CMS Energy news, SVP Shaun M. Johnson sold 814 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $61.74, for a total transaction of $50,256.36. Following the completion of the sale, the senior vice president now owns 57,304 shares of the company’s stock, valued at $3,537,948.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by insiders.
CMS Energy Price Performance
CMS Energy (NYSE:CMS – Get Rating) last posted its earnings results on Thursday, February 2nd. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.05 billion. CMS Energy had a return on equity of 11.57% and a net margin of 9.74%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, research analysts anticipate that CMS Energy Co. will post 3.11 earnings per share for the current year.
CMS Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Monday, February 13th will be paid a dividend of $0.4875 per share. This is a boost from CMS Energy’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 10th. This represents a $1.95 annualized dividend and a yield of 3.23%. CMS Energy’s dividend payout ratio (DPR) is 68.42%.
Analysts Set New Price Targets
Several analysts recently commented on CMS shares. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. BMO Capital Markets lowered their price target on CMS Energy from $70.00 to $69.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 14th. Wells Fargo & Company decreased their target price on CMS Energy from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Morgan Stanley decreased their target price on CMS Energy from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd. Finally, Credit Suisse Group upgraded CMS Energy from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $61.00 to $64.00 in a research report on Monday, November 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CMS Energy presently has a consensus rating of “Hold” and a consensus target price of $67.33.
About CMS Energy
CMS Energy Corp. is a holding company, which engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment consists of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan.
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