Hennion & Walsh Asset Management Inc. cut its stake in shares of CMS Energy Co. (NYSE:CMS – Get Rating) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,139 shares of the utilities provider’s stock after selling 2,725 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in CMS Energy were worth $642,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CMS. Covington Capital Management acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $27,000. Motco acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of CMS Energy in the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust raised its position in shares of CMS Energy by 63.9% in the third quarter. Parkside Financial Bank & Trust now owns 821 shares of the utilities provider’s stock valued at $48,000 after buying an additional 320 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of CMS Energy by 38.2% in the first quarter. Covestor Ltd now owns 1,157 shares of the utilities provider’s stock valued at $81,000 after buying an additional 320 shares in the last quarter. 92.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CMS. Bank of America upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and dropped their price target for the company from $68.00 to $66.00 in a research report on Wednesday, March 8th. StockNews.com began coverage on shares of CMS Energy in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 price objective on shares of CMS Energy in a research note on Wednesday, February 8th. BMO Capital Markets decreased their price objective on shares of CMS Energy from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 14th. Finally, Wells Fargo & Company decreased their price objective on shares of CMS Energy from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.80.
CMS Energy Stock 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 for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.05 billion. CMS Energy had a net margin of 9.74% and a return on equity of 11.57%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts expect that CMS Energy Co. will post 3.11 EPS for the current fiscal year.
CMS Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 13th were paid a $0.4875 dividend. This is a boost from CMS Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 10th. This represents a $1.95 annualized dividend and a dividend yield of 3.23%. CMS Energy’s payout ratio is currently 68.42%.
Insider Buying and Selling
In related news, SVP Shaun M. Johnson sold 814 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $61.74, for a total value of $50,256.36. Following the sale, the senior vice president now owns 57,304 shares of the company’s stock, valued at $3,537,948.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Brandon J. Hofmeister sold 1,250 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $60.00, for a total value of $75,000.00. Following the sale, the senior vice president now owns 62,881 shares of the company’s stock, valued at $3,772,860. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Shaun M. Johnson sold 814 shares of the business’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 directly owns 57,304 shares in the company, valued at approximately $3,537,948.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,314 shares of company stock valued at $447,136 over the last 90 days. 0.40% of the stock is owned by insiders.
CMS Energy Company Profile
CMS Energy Corp. engages in the provision of electric and natural gas activities. It operates through the following business segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility segment focuses on generation, purchase, distribution, and sale of electricity. The Gas Utility segment includes purchase, transmission, storage, distribution, and sale of natural gas.
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