Covestor Ltd Raises Position in CMS Energy Co. (NYSE:CMS)

Covestor Ltd raised its holdings in shares of CMS Energy Co. (NYSE:CMS) by 206.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 701 shares of the utilities provider’s stock after buying an additional 472 shares during the quarter. Covestor Ltd’s holdings in CMS Energy were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC boosted its position in shares of CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new stake in CMS Energy during the first quarter valued at approximately $43,000. Innealta Capital LLC purchased a new position in CMS Energy in the 2nd quarter worth approximately $43,000. Values First Advisors Inc. bought a new position in shares of CMS Energy in the 3rd quarter worth $56,000. Finally, Voisard Asset Management Group Inc. raised its position in shares of CMS Energy by 25.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after buying an additional 163 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.

CMS Energy Stock Down 0.4 %

NYSE CMS opened at $67.40 on Friday. The business’s 50-day moving average is $69.79 and its 200 day moving average is $65.14. The stock has a market capitalization of $20.14 billion, a PE ratio of 19.32, a PEG ratio of 2.71 and a beta of 0.41. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. CMS Energy Co. has a 1 year low of $55.10 and a 1 year high of $72.40.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.06%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. CMS Energy’s dividend payout ratio (DPR) is currently 58.86%.

Analysts Set New Price Targets

CMS has been the topic of a number of research analyst reports. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. Guggenheim raised their price objective on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. BMO Capital Markets cut their target price on CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America lifted their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company upped their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average target price of $70.29.

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.