Jennison Associates LLC Reduces Holdings in CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC reduced its stake in CMS Energy Co. (NYSE:CMS) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,959,497 shares of the utilities provider’s stock after selling 91,485 shares during the period. Jennison Associates LLC’s holdings in CMS Energy were worth $138,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC raised its position in CMS Energy by 12.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 23,152 shares of the utilities provider’s stock valued at $1,397,000 after purchasing an additional 2,545 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of CMS Energy by 80.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,328 shares of the utilities provider’s stock worth $985,000 after acquiring an additional 7,256 shares during the period. Seven Eight Capital LP bought a new position in shares of CMS Energy in the 1st quarter worth approximately $820,000. American International Group Inc. grew its stake in CMS Energy by 0.6% in the first quarter. American International Group Inc. now owns 76,972 shares of the utilities provider’s stock worth $4,644,000 after purchasing an additional 472 shares during the period. Finally, Crewe Advisors LLC bought a new position in CMS Energy in the first quarter worth $124,000. Institutional investors own 93.57% of the company’s stock.

Insider Activity

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMS shares. Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. Barclays boosted their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. KeyCorp raised 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 lowered CMS Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.29.

CMS Energy Stock Up 0.1 %

NYSE CMS opened at $68.57 on Wednesday. The stock’s 50-day moving average price is $69.75 and its 200-day moving average price is $65.38. The company has a market capitalization of $20.49 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.72 and a beta of 0.41. CMS Energy Co. has a 52 week low of $55.10 and a 52 week high of $72.40. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities research analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 3.00%. CMS Energy’s dividend payout ratio (DPR) is currently 58.86%.

About CMS Energy

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.