Advisory Alpha LLC raised its position in shares of CMS Energy Co. (NYSE:CMS – Free Report) by 15.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,619 shares of the utilities provider’s stock after acquiring an additional 878 shares during the period. Advisory Alpha LLC’s holdings in CMS Energy were worth $394,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in shares of CMS Energy during the fourth quarter worth approximately $29,000. Voisard Asset Management Group Inc. acquired a new stake in shares of CMS Energy in the fourth quarter valued at approximately $36,000. TruNorth Capital Management LLC increased its holdings in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CMS Energy in the first quarter valued at approximately $43,000. Finally, Innealta Capital LLC acquired a new stake in shares of CMS Energy in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 93.57% of the company’s stock.
CMS Energy Price Performance
Shares of NYSE CMS opened at $71.05 on Wednesday. The firm has a market cap of $21.22 billion, a PE ratio of 21.66, a PEG ratio of 2.80 and a beta of 0.40. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. CMS Energy Co. has a 1-year low of $49.87 and a 1-year high of $71.48. The company has a fifty day moving average price of $67.50 and a 200 day moving average price of $62.83.
CMS Energy Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, August 2nd. CMS Energy’s payout ratio is presently 62.80%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on CMS. BMO Capital Markets raised their price target on shares of CMS Energy from $69.00 to $76.00 and gave the company an “outperform” rating in a report on Monday. Guggenheim raised their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays raised their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 13th. Mizuho raised their price objective on shares of CMS Energy from $65.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.38.
Check Out Our Latest Report on CMS Energy
CMS Energy Company 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.
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