Profund Advisors LLC reduced its stake in CMS Energy Co. (NYSE:CMS) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,927 shares of the utilities provider’s stock after selling 2,809 shares during the period. Profund Advisors LLC’s holdings in CMS Energy were worth $1,179,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation increased its holdings in shares of CMS Energy by 8,255.2% in the third quarter. Zions Bancorporation now owns 2,423 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 2,394 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of CMS Energy in the fourth quarter valued at $122,000. Tower Research Capital LLC TRC increased its holdings in shares of CMS Energy by 271.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 1,998 shares during the last quarter. IBM Retirement Fund acquired a new position in shares of CMS Energy in the third quarter valued at $205,000. Finally, Mackenzie Financial Corp acquired a new position in shares of CMS Energy in the fourth quarter valued at $213,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.
In related news, SVP Catherine M. Reynolds sold 8,310 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.40, for a total transaction of $360,654.00. Following the completion of the sale, the senior vice president now owns 126,810 shares of the company’s stock, valued at $5,503,554. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.65% of the company’s stock.
CMS Energy (NYSE:CMS) last released its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.51 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. CMS Energy had a net margin of 6.99% and a return on equity of 13.60%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $0.29 earnings per share. CMS Energy’s revenue was up 8.4% compared to the same quarter last year. research analysts anticipate that CMS Energy Co. will post 2.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 16th were given a dividend of $0.3575 per share. This is a boost from CMS Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, February 15th. This represents a $1.43 annualized dividend and a yield of 3.33%. CMS Energy’s dividend payout ratio is currently 87.20%.
Several equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of CMS Energy from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, March 8th. SunTrust Banks reiterated a “hold” rating and issued a $45.00 price objective on shares of CMS Energy in a report on Monday, January 29th. TheStreet downgraded shares of CMS Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 14th. Wells Fargo & Co decreased their price objective on shares of CMS Energy from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, UBS Group began coverage on shares of CMS Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $49.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $48.29.
CMS Energy Profile
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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