Duff & Phelps Investment Management Co. Sells 402,666 Shares of CMS Energy Co. (NYSE:CMS)

Duff & Phelps Investment Management Co. cut its holdings in CMS Energy Co. (NYSE:CMS) by 20.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,615,109 shares of the utilities provider’s stock after selling 402,666 shares during the period. CMS Energy makes up approximately 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 28th biggest position. Duff & Phelps Investment Management Co.’s holdings in CMS Energy were worth $96,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMS. Susquehanna Fundamental Investments LLC grew its position in shares of CMS Energy by 6.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 313,493 shares of the utilities provider’s stock worth $18,662,000 after buying an additional 19,349 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of CMS Energy by 0.6% during the second quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider’s stock valued at $1,511,000 after acquiring an additional 157 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in CMS Energy by 16.4% in the second quarter. The Manufacturers Life Insurance Company now owns 187,111 shares of the utilities provider’s stock worth $11,139,000 after acquiring an additional 26,379 shares during the period. MBB Public Markets I LLC bought a new stake in CMS Energy in the second quarter valued at $1,236,000. Finally, Decade Renewable Partners LP purchased a new position in CMS Energy during the 2nd quarter valued at $12,347,000. Institutional investors own 93.57% of the company’s stock.

CMS Energy Trading Up 0.7 %

CMS Energy stock opened at $70.43 on Friday. The business’s fifty day simple moving average is $67.12 and its two-hundred day simple moving average is $62.62. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. CMS Energy Co. has a 12 month low of $49.87 and a 12 month high of $71.02.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $1.61 billion for 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%. CMS Energy’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. As a group, equities analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, August 2nd. CMS Energy’s dividend payout ratio (DPR) is currently 62.80%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. KeyCorp raised their price objective on shares of CMS Energy from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Barclays lifted their price target on CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. Finally, Scotiabank upped their price target on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, CMS Energy presently has an average rating of “Moderate Buy” and an average target price of $68.17.

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.