Magellan Asset Management Ltd Lowers Position in CMS Energy Co. (NYSE:CMS)

Magellan Asset Management Ltd trimmed its holdings in shares of CMS Energy Co. (NYSE:CMS) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,412,524 shares of the utilities provider’s stock after selling 92,482 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.47% of CMS Energy worth $94,145,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of CMS Energy in the 4th quarter worth $171,798,000. Massachusetts Financial Services Co. MA raised its holdings in CMS Energy by 28.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,741,389 shares of the utilities provider’s stock worth $649,264,000 after purchasing an additional 2,131,269 shares in the last quarter. Fisher Funds Management LTD purchased a new stake in shares of CMS Energy during the fourth quarter valued at about $53,904,000. Prudential Financial Inc. boosted its holdings in shares of CMS Energy by 207.9% in the 4th quarter. Prudential Financial Inc. now owns 1,115,524 shares of the utilities provider’s stock valued at $74,350,000 after buying an additional 753,182 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of CMS Energy by 404.8% in the 3rd quarter. National Bank of Canada FI now owns 892,734 shares of the utilities provider’s stock worth $63,053,000 after buying an additional 715,891 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Down 0.6 %

CMS opened at $74.71 on Thursday. CMS Energy Co. has a fifty-two week low of $56.61 and a fifty-two week high of $75.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.57 and a current ratio of 0.79. The stock has a market capitalization of $22.32 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.56 and a beta of 0.35. The company has a fifty day moving average of $70.91 and a two-hundred day moving average of $69.38.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. CMS Energy had a return on equity of 12.02% and a net margin of 13.35%. On average, research analysts expect that CMS Energy Co. will post 3.59 earnings per share for the current year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from CMS Energy’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a yield of 2.90%. CMS Energy’s dividend payout ratio is currently 65.36%.

Analysts Set New Price Targets

CMS has been the topic of several analyst reports. Barclays raised shares of CMS Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $75.00 in a report on Thursday, February 20th. StockNews.com lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. Guggenheim restated a “neutral” rating and set a $69.00 price target on shares of CMS Energy in a research note on Friday, February 7th. Scotiabank boosted their price objective on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, UBS Group raised their target price on CMS Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, CMS Energy has an average rating of “Hold” and a consensus target price of $75.36.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $73.77, for a total transaction of $147,540.00. Following the completion of the sale, the senior vice president now directly owns 71,931 shares in the company, valued at approximately $5,306,349.87. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Scott B. Mcintosh sold 6,700 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $69.76, for a total value of $467,392.00. Following the completion of the transaction, the chief accounting officer now owns 21,643 shares in the company, valued at $1,509,815.68. The trade was a 23.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,200 shares of company stock worth $789,532 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

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.