Jennison Associates LLC Trims Stake in CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC lessened its stake in shares of CMS Energy Co. (NYSE:CMS) by 1.8% during the 4th quarter, Holdings Channel reports. The fund owned 2,075,180 shares of the utilities provider’s stock after selling 37,711 shares during the period. Jennison Associates LLC’s holdings in CMS Energy were worth $120,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. boosted its position in CMS Energy by 7.3% during the 3rd quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock valued at $247,658,000 after acquiring an additional 317,682 shares in the last quarter. abrdn plc boosted its position in CMS Energy by 1.9% during the 3rd quarter. abrdn plc now owns 3,144,280 shares of the utilities provider’s stock valued at $166,993,000 after acquiring an additional 58,405 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in CMS Energy by 23.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,054,137 shares of the utilities provider’s stock valued at $162,205,000 after acquiring an additional 570,800 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in CMS Energy by 6.1% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,847,108 shares of the utilities provider’s stock valued at $98,100,000 after acquiring an additional 106,172 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in CMS Energy by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 1,833,803 shares of the utilities provider’s stock valued at $97,393,000 after acquiring an additional 27,644 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

Shares of CMS opened at $60.00 on Tuesday. The stock has a 50-day moving average of $58.50 and a two-hundred day moving average of $57.29. The stock has a market cap of $17.92 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 0.38. CMS Energy Co. has a one year low of $49.87 and a one year high of $63.76. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The company’s revenue was down 14.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, research analysts predict that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.43%. CMS Energy’s payout ratio is currently 68.44%.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Scotiabank lowered their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research report on Monday. Royal Bank of Canada lowered their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Guggenheim raised CMS Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. Finally, UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, CMS Energy has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.