Hartford Investment Management Co. Cuts Stock Position in CMS Energy Co. (NYSE:CMS)

Hartford Investment Management Co. decreased its stake in shares of CMS Energy Co. (NYSE:CMS) by 1.2% in the third quarter, Holdings Channel reports. The institutional investor owned 19,031 shares of the utilities provider’s stock after selling 224 shares during the quarter. Hartford Investment Management Co.’s holdings in CMS Energy were worth $1,344,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC raised its position in shares of CMS Energy by 48,203.8% in the 1st quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock worth $3,059,000 after purchasing an additional 50,614 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 valued at $21,267,000 after purchasing an additional 49,630 shares during the last quarter. Duality Advisers LP increased its stake 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 valued at $6,890,000 after purchasing an additional 108,350 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in CMS Energy by 56.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,719 shares of the utilities provider’s stock worth $4,511,000 after buying an additional 27,053 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of CMS Energy by 79.9% in the second quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock worth $43,569,000 after buying an additional 325,101 shares in the last quarter. 93.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Evercore ISI upgraded CMS Energy to a “hold” rating in a research note on Friday, July 26th. KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Scotiabank raised their price target on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, CMS Energy currently has an average rating of “Moderate Buy” and a consensus price target of $69.85.

CMS Energy Trading Down 1.4 %

Shares of CMS stock opened at $70.77 on Friday. CMS Energy Co. has a 1 year low of $53.53 and a 1 year high of $72.40. The firm has a fifty day moving average price of $69.43 and a 200-day moving average price of $64.13. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. CMS Energy’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.91%. CMS Energy’s payout ratio is 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.