Ferguson Wellman Capital Management Inc. Cuts Holdings in CMS Energy Co. (NYSE:CMS)

Ferguson Wellman Capital Management Inc. lowered its stake in shares of CMS Energy Co. (NYSE:CMS) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,946 shares of the utilities provider’s stock after selling 1,802 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in CMS Energy were worth $1,762,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in CMS Energy by 101.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after acquiring an additional 3,473,977 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Raymond James & Associates raised its position in CMS Energy by 310.2% in the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after purchasing an additional 851,364 shares during the period. iA Global Asset Management Inc. raised its position in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares during the period. Finally, Railway Pension Investments Ltd purchased a new stake in CMS Energy during the second quarter valued at about $47,082,000. 93.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America lifted their price target on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Guggenheim increased their price objective on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their target price on shares of CMS Energy from $69.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, KeyCorp upped their price target on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

CMS Energy Price Performance

Shares of NYSE CMS opened at $71.29 on Friday. CMS Energy Co. has a 1 year low of $52.12 and a 1 year high of $71.57. The stock has a market capitalization of $21.29 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.77 and a beta of 0.41. The company’s 50-day moving average is $68.99 and its 200 day moving average is $63.82. 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 posted its earnings results on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm 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%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 2nd. CMS Energy’s dividend 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.