Greenleaf Trust Sells 698 Shares of CMS Energy Co. (NYSE:CMS)

Greenleaf Trust reduced its holdings in shares of CMS Energy Co. (NYSE:CMS) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,394 shares of the utilities provider’s stock after selling 698 shares during the period. Greenleaf Trust’s holdings in CMS Energy were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CMS. Massachusetts Financial Services Co. MA increased its position in CMS Energy by 101.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after buying an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. increased its position in CMS Energy by 14.0% during the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after buying an additional 2,786,071 shares in the last quarter. Raymond James & Associates increased its position in CMS Energy by 310.2% during the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock valued at $79,519,000 after buying an additional 851,364 shares in the last quarter. iA Global Asset Management Inc. increased its position in CMS Energy by 105.9% during the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after buying an additional 800,344 shares in the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in CMS Energy during the 2nd quarter valued at about $47,082,000. 93.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CMS shares. Guggenheim upped their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America increased their price objective on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets increased their price objective on CMS Energy from $69.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $76.00 to $72.00 in a report on Tuesday, October 15th. Finally, KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Stock Performance

Shares of CMS stock opened at $71.76 on Friday. The company has a market capitalization of $21.43 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.77 and a beta of 0.41. The business’s 50 day moving average is $69.32 and its two-hundred day moving average is $64.08. 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 $53.38 and a 12-month high of $72.40.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. Analysts expect that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 2.87%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 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.