Quarry LP Purchases 1,800 Shares of CMS Energy Co. (NYSE:CMS)

Quarry LP lifted its position in shares of CMS Energy Co. (NYSE:CMS) by 118.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,325 shares of the utilities provider’s stock after acquiring an additional 1,800 shares during the quarter. Quarry LP’s holdings in CMS Energy were worth $198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in shares of CMS Energy by 48,203.8% during the first quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock valued at $3,059,000 after purchasing an additional 50,614 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CMS Energy by 16.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock worth $21,267,000 after buying an additional 49,630 shares during the period. Duality Advisers LP grew its holdings in CMS Energy by 1,854.4% during the 1st quarter. Duality Advisers LP now owns 114,193 shares of the utilities provider’s stock worth $6,890,000 after acquiring an additional 108,350 shares during the last quarter. Viking Fund Management LLC acquired a new position in CMS Energy in the 1st quarter valued at approximately $2,655,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CMS Energy by 56.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,719 shares of the utilities provider’s stock valued at $4,511,000 after acquiring an additional 27,053 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CMS. Scotiabank boosted their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price target on CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays raised their price objective on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. BMO Capital Markets upped their target price on CMS Energy from $69.00 to $76.00 and gave the company an “outperform” rating in a report on Monday. Finally, StockNews.com upgraded shares of 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 given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.83.

CMS Energy Stock Performance

NYSE:CMS opened at $70.60 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $71.02. The company has a fifty day moving average of $67.31 and a 200-day moving average of $62.74. The firm has a market capitalization of $21.08 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.80 and a beta of 0.40.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $1.61 billion during 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%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, sell-side analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were issued a $0.51 dividend. The ex-dividend date was Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 2.89%. CMS Energy’s payout ratio is currently 62.80%.

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.