iA Global Asset Management Inc. Sells 177,434 Shares of CMS Energy Corporation (NYSE:CMS)

Key Points

• iA Global Asset Management Inc. has reduced its stake in CMS Energy Corporation by 11.1%, holding 1,421,557 shares after selling 177,434 shares during the first quarter.
• CMS Energy's stock is currently rated with a consensus of "Hold", along with target price increases from several analysts, including Wells Fargo, which raised its target from $78 to $82.
• The company recently declared a quarterly dividend of $0.5425, which equates to an annual dividend yield of 2.9%.

iA Global Asset Management Inc. reduced its stake in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,421,557 shares of the utilities provider's stock after selling 177,434 shares during the period. CMS Energy accounts for 1.8% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 14th biggest holding. iA Global Asset Management Inc. owned 0.48% of CMS Energy worth $106,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CMS. Teachers Retirement System of The State of Kentucky boosted its position in CMS Energy by 4.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 23,064 shares of the utilities provider's stock worth $1,732,000 after purchasing an additional 893 shares during the period. Private Trust Co. NA boosted its holdings in shares of CMS Energy by 14.4% during the 1st quarter. Private Trust Co. NA now owns 1,466 shares of the utilities provider's stock worth $110,000 after buying an additional 185 shares during the period. Vontobel Holding Ltd. grew its stake in CMS Energy by 9.4% in the 1st quarter. Vontobel Holding Ltd. now owns 4,662 shares of the utilities provider's stock valued at $350,000 after buying an additional 400 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in CMS Energy by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 35,015 shares of the utilities provider's stock worth $2,629,000 after acquiring an additional 950 shares during the period. Finally, Cerity Partners LLC lifted its position in CMS Energy by 32.6% during the 1st quarter. Cerity Partners LLC now owns 34,681 shares of the utilities provider's stock worth $2,605,000 after acquiring an additional 8,536 shares during the last quarter. Institutional investors own 93.57% of the company's stock.

CMS Energy Trading Down 1.4%

CMS traded down $1.02 during trading on Friday, reaching $73.52. 2,571,411 shares of the stock traded hands, compared to its average volume of 2,492,691. The stock's 50-day moving average is $70.77 and its 200 day moving average is $71.07. CMS Energy Corporation has a 12 month low of $63.97 and a 12 month high of $76.45. The company has a quick ratio of 0.77, a current ratio of 1.00 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $22.01 billion, a PE ratio of 21.75, a P/E/G ratio of 2.75 and a beta of 0.36.

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

CMS Energy Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 8th. CMS Energy's payout ratio is 64.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CMS shares. Morgan Stanley set a $71.00 price objective on shares of CMS Energy and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Scotiabank restated an "outperform" rating and issued a $81.00 price target (up from $77.00) on shares of CMS Energy in a research report on Friday, April 25th. Jefferies Financial Group upped their price objective on shares of CMS Energy from $77.00 to $83.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Wells Fargo & Company lifted their target price on CMS Energy from $78.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded CMS Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $77.25.

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.