Elevated Capital Advisors LLC Sells 314 Shares of CMS Energy Co. (NYSE:CMS)

Elevated Capital Advisors LLC lowered its stake in CMS Energy Co. (NYSE:CMS) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,631 shares of the utilities provider’s stock after selling 314 shares during the quarter. Elevated Capital Advisors LLC’s holdings in CMS Energy were worth $892,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of CMS Energy by 48,203.8% during the first quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock valued at $3,059,000 after buying an additional 50,614 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CMS Energy by 16.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock valued at $21,267,000 after buying an additional 49,630 shares during the period. Duality Advisers LP increased its stake in shares of CMS Energy by 1,854.4% during the first quarter. Duality Advisers LP now owns 114,193 shares of the utilities provider’s stock valued at $6,890,000 after buying an additional 108,350 shares during the period. Viking Fund Management LLC purchased a new position in shares of CMS Energy during the first quarter valued at approximately $2,655,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CMS Energy by 56.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,719 shares of the utilities provider’s stock valued at $4,511,000 after buying an additional 27,053 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Trading Down 0.2 %

Shares of NYSE:CMS opened at $71.03 on Wednesday. The company has a market cap of $21.21 billion, a P/E ratio of 21.66, 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 Co. has a 1 year low of $52.12 and a 1 year high of $71.57. The stock’s fifty day moving average price is $69.20 and its 200-day moving average price is $64.02.

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

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 2.90%. CMS Energy’s dividend payout ratio is currently 62.80%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CMS. 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, July 26th. Scotiabank upped their price target on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price target on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

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.