Wedbush Securities Inc. Sells 673 Shares of CMS Energy Co. (NYSE:CMS)

Wedbush Securities Inc. reduced its position in shares of CMS Energy Co. (NYSE:CMS) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,274 shares of the utilities provider’s stock after selling 673 shares during the quarter. Wedbush Securities Inc.’s holdings in CMS Energy were worth $314,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of CMS Energy during the 2nd quarter valued at approximately $92,000. Quest Partners LLC grew its stake in shares of CMS Energy by 130,804.3% during the 2nd quarter. Quest Partners LLC now owns 30,108 shares of the utilities provider’s stock valued at $1,792,000 after acquiring an additional 30,085 shares during the period. Oak Thistle LLC grew its stake in shares of CMS Energy by 42.9% during the 2nd quarter. Oak Thistle LLC now owns 5,517 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 1,655 shares during the period. Caprock Group LLC bought a new position in shares of CMS Energy during the 2nd quarter valued at approximately $218,000. Finally, Acadian Asset Management LLC grew its stake in shares of CMS Energy by 1,853.6% during the 2nd quarter. Acadian Asset Management LLC now owns 30,300 shares of the utilities provider’s stock valued at $1,802,000 after acquiring an additional 28,749 shares during the period. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Trading Up 1.1 %

Shares of CMS opened at $70.09 on Friday. The company’s fifty day moving average is $65.22 and its 200 day moving average is $61.86. CMS Energy Co. has a fifty-two week low of $49.87 and a fifty-two week high of $70.12. The stock has a market capitalization of $20.94 billion, a PE ratio of 21.37, a P/E/G ratio of 2.75 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. CMS Energy’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on CMS Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI raised CMS Energy to a “hold” rating in a report on Friday, July 26th. KeyCorp boosted their price target on CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.33.

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.