Assenagon Asset Management S.A. Sells 650,519 Shares of CMS Energy Co. (NYSE:CMS)

Assenagon Asset Management S.A. lessened its stake in CMS Energy Co. (NYSE:CMS) by 88.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,368 shares of the utilities provider’s stock after selling 650,519 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CMS Energy were worth $5,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ausbil Investment Management Ltd grew its position in shares of CMS Energy by 16.9% during the 3rd quarter. Ausbil Investment Management Ltd now owns 76,500 shares of the utilities provider’s stock worth $5,403,000 after buying an additional 11,063 shares during the period. Impact Partnership Wealth LLC acquired a new stake in CMS Energy during the 3rd quarter worth $611,000. Hennion & Walsh Asset Management Inc. raised its position in shares of CMS Energy by 11.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,471 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 1,532 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of CMS Energy in the 3rd quarter worth $179,990,000. Finally, Aquila Investment Management LLC acquired a new stake in shares of CMS Energy during the third quarter worth $353,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

Analyst Upgrades and Downgrades

CMS has been the topic of several analyst reports. StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets upped their target price on shares of CMS Energy from $69.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Guggenheim increased their target price on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Scotiabank upped 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. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Stock Down 2.3 %

NYSE:CMS opened at $69.54 on Wednesday. CMS Energy Co. has a 52-week low of $53.53 and a 52-week high of $72.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The stock has a 50-day simple moving average of $69.67 and a 200 day simple moving average of $64.47. The company has a market cap of $20.77 billion, a PE ratio of 21.20, a PEG ratio of 2.77 and a beta of 0.41.

CMS Energy Increases Dividend

The firm 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 $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s payout ratio is currently 62.80%.

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.