Prospera Financial Services Inc Lowers Stake in CMS Energy Co. (NYSE:CMS)

Prospera Financial Services Inc reduced its position in shares of CMS Energy Co. (NYSE:CMS) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,330 shares of the utilities provider’s stock after selling 1,843 shares during the quarter. Prospera Financial Services Inc’s holdings in CMS Energy were worth $871,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after buying an additional 3,473,977 shares during the last quarter. Raymond James & Associates boosted its stake in shares of CMS Energy by 310.2% in the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after acquiring an additional 851,364 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of CMS Energy by 105.9% during the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares in the last quarter. Railway Pension Investments Ltd acquired a new position in CMS Energy in the 2nd quarter valued at $47,082,000. Finally, Zimmer Partners LP boosted its stake in CMS Energy by 448.5% during the 1st quarter. Zimmer Partners LP now owns 860,524 shares of the utilities provider’s stock worth $51,924,000 after purchasing an additional 703,644 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now directly owns 64,771 shares in the company, valued at approximately $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMS. Barclays raised their price target on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley dropped their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday. KeyCorp lifted their price objective on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $72.00 in a report on Tuesday, October 15th. Finally, Guggenheim lifted their price target on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.21.

CMS Energy Stock Performance

NYSE:CMS opened at $69.52 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. The company has a 50 day moving average price of $69.72 and a 200 day moving average price of $65.48. CMS Energy Co. has a fifty-two week low of $55.10 and a fifty-two week high of $72.40. The stock has a market capitalization of $20.77 billion, a P/E ratio of 19.86, a PEG ratio of 2.73 and a beta of 0.41.

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

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 2.96%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 58.86%.

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.