1832 Asset Management L.P. Sells 633,310 Shares of CMS Energy Co. (NYSE:CMS)

1832 Asset Management L.P. reduced its stake in shares of CMS Energy Co. (NYSE:CMS) by 42.0% in the 1st quarter, Holdings Channel reports. The firm owned 873,370 shares of the utilities provider’s stock after selling 633,310 shares during the quarter. 1832 Asset Management L.P.’s holdings in CMS Energy were worth $52,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in CMS Energy by 58.3% during the 4th quarter. SG Americas Securities LLC now owns 27,588 shares of the utilities provider’s stock valued at $1,602,000 after purchasing an additional 10,163 shares during the period. CVA Family Office LLC bought a new position in CMS Energy during the fourth quarter worth $47,000. Raymond James Financial Services Advisors Inc. boosted its position in CMS Energy by 68.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 26,034 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of CMS Energy by 161.8% during the 4th quarter. Pacer Advisors Inc. now owns 74,182 shares of the utilities provider’s stock valued at $4,308,000 after purchasing an additional 45,843 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of CMS Energy during the 4th quarter valued at about $229,000. 93.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the sale, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.79, for a total value of $143,464.40. Following the completion of the sale, the director now owns 14,556 shares in the company, valued at $884,859.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,027 shares of company stock worth $365,651. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Stock Performance

NYSE CMS traded down $0.25 on Friday, hitting $62.96. 1,609,165 shares of the company traded hands, compared to its average volume of 1,826,400. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 2.51 and a beta of 0.38. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average price is $60.66 and its 200-day moving average price is $59.44. CMS Energy Co. has a 52-week low of $49.87 and a 52-week high of $64.28.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. Equities analysts expect that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be given a $0.51 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.24%. CMS Energy’s dividend payout ratio is currently 62.80%.

Analysts Set New Price Targets

Several analysts have recently commented on CMS shares. UBS Group downgraded CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Thursday, April 4th. Wells Fargo & Company lifted their price target on CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank lowered their target price on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Guggenheim boosted their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price target on CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $65.00.

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.