Everence Capital Management Inc. Lowers Holdings in CMS Energy Co. (NYSE:CMS)

Everence Capital Management Inc. cut its stake in shares of CMS Energy Co. (NYSE:CMS) by 50.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,230 shares of the utilities provider’s stock after selling 6,300 shares during the quarter. Everence Capital Management Inc.’s holdings in CMS Energy were worth $440,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. TruNorth Capital Management LLC grew its holdings in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after buying an additional 578 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CMS Energy during the 1st quarter valued at $43,000. Innealta Capital LLC bought a new stake in shares of CMS Energy in the 2nd quarter worth $43,000. DT Investment Partners LLC lifted its holdings in shares of CMS Energy by 594.5% during the second quarter. DT Investment Partners LLC now owns 1,007 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 862 shares in the last quarter. Finally, Tobam lifted its holdings in shares of CMS Energy by 31.7% during the third quarter. Tobam now owns 868 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMS. Scotiabank increased their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. KeyCorp increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Guggenheim boosted their price objective on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price objective 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. Finally, Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.85.

CMS Energy Price Performance

NYSE:CMS opened at $71.17 on Tuesday. The company has a market capitalization of $21.25 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.77 and a beta of 0.41. The business’s 50-day moving average is $69.10 and its 200 day moving average is $63.94. 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 12 month low of $52.12 and a 12 month high of $71.57.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the company posted $0.75 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.89%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is presently 62.80%.

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.