Foundations Investment Advisors LLC Buys New Stake in CMS Energy Corporation (NYSE:CMS)

Key Points

• Foundations Investment Advisors LLC has invested approximately $353,000 in CMS Energy Corporation, acquiring 4,693 shares in the first quarter.
• CMS Energy reported earnings of $0.71 per share for the last quarter, exceeding the consensus estimate of $0.67, with revenue up by 14.4% year-over-year.
• The company announced a quarterly dividend of $0.5425, representing an annualized dividend yield of 2.9%.

Foundations Investment Advisors LLC bought a new position in shares of CMS Energy Corporation (NYSE:CMS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,693 shares of the utilities provider's stock, valued at approximately $353,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in CMS Energy by 13.2% during the first quarter. Mackenzie Financial Corp now owns 29,406 shares of the utilities provider's stock valued at $2,209,000 after buying an additional 3,429 shares in the last quarter. RWC Asset Management LLP boosted its stake in CMS Energy by 37.6% in the 1st quarter. RWC Asset Management LLP now owns 514,375 shares of the utilities provider's stock worth $38,635,000 after purchasing an additional 140,618 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CMS Energy by 15.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,851 shares of the utilities provider's stock worth $6,749,000 after purchasing an additional 11,719 shares in the last quarter. Empirical Finance LLC raised its stake in CMS Energy by 3.9% during the 1st quarter. Empirical Finance LLC now owns 10,316 shares of the utilities provider's stock valued at $775,000 after purchasing an additional 385 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of CMS Energy by 52.5% in the first quarter. TD Asset Management Inc now owns 867,767 shares of the utilities provider's stock valued at $65,178,000 after purchasing an additional 298,681 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CMS. Wells Fargo & Company upped their price target on CMS Energy from $78.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wolfe Research reiterated a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. Evercore ISI increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. BMO Capital Markets raised their price target on shares of CMS Energy from $77.00 to $79.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Finally, Wall Street Zen lowered shares of CMS Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, CMS Energy presently has an average rating of "Hold" and a consensus target price of $77.25.

CMS Energy Stock Up 0.4%

Shares of CMS Energy stock traded up $0.30 during midday trading on Wednesday, reaching $74.46. 628,439 shares of the company's stock traded hands, compared to its average volume of 2,479,776. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.77 and a current ratio of 1.00. CMS Energy Corporation has a 52 week low of $63.97 and a 52 week high of $76.45. The company's 50 day simple moving average is $70.66 and its 200 day simple moving average is $71.05. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.36.

CMS Energy (NYSE:CMS - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.67 by $0.04. CMS Energy had a net margin of 12.76% and a return on equity of 12.07%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The business's quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts expect that CMS Energy Corporation will post 3.59 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be issued a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 8th. CMS Energy's payout ratio is 64.20%.

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.