Jennison Associates LLC Sells 59,321 Shares of CMS Energy Corporation (NYSE:CMS)

Jennison Associates LLC trimmed its stake in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,872,284 shares of the utilities provider's stock after selling 59,321 shares during the quarter. Jennison Associates LLC owned about 0.63% of CMS Energy worth $140,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sigma Planning Corp raised its holdings in shares of CMS Energy by 0.4% during the first quarter. Sigma Planning Corp now owns 32,045 shares of the utilities provider's stock valued at $2,407,000 after acquiring an additional 142 shares during the period. Sage Mountain Advisors LLC boosted its holdings in shares of CMS Energy by 4.5% during the 1st quarter. Sage Mountain Advisors LLC now owns 3,360 shares of the utilities provider's stock worth $252,000 after buying an additional 144 shares during the period. Sumitomo Life Insurance Co. raised its stake in CMS Energy by 1.3% during the 1st quarter. Sumitomo Life Insurance Co. now owns 11,233 shares of the utilities provider's stock valued at $844,000 after purchasing an additional 146 shares during the last quarter. Spire Wealth Management raised its stake in shares of CMS Energy by 6.4% in the 1st quarter. Spire Wealth Management now owns 2,550 shares of the utilities provider's stock valued at $191,000 after buying an additional 154 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of CMS Energy by 14.4% in the 1st quarter. Private Trust Co. NA now owns 1,466 shares of the utilities provider's stock worth $110,000 after purchasing an additional 185 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of CMS Energy from $77.00 to $83.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Wells Fargo & Company boosted their price objective on shares of CMS Energy from $78.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Evercore ISI raised their target price on shares of CMS Energy from $73.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Bank of America raised their target price on shares of CMS Energy from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, March 24th. Finally, Scotiabank reaffirmed an "outperform" rating and set a $81.00 price objective (up from $77.00) on shares of CMS Energy in a research report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CMS Energy presently has an average rating of "Moderate Buy" and a consensus target price of $77.00.

CMS Energy Price Performance

NYSE:CMS traded up $1.05 during mid-day trading on Friday, reaching $71.90. The stock had a trading volume of 1,583,659 shares, compared to its average volume of 2,332,762. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.84 and a current ratio of 1.06. CMS Energy Corporation has a one year low of $61.25 and a one year high of $76.45. The firm has a 50 day moving average price of $69.99 and a two-hundred day moving average price of $70.48. The stock has a market capitalization of $21.51 billion, a P/E ratio of 21.34, a P/E/G ratio of 2.56 and a beta of 0.38.

CMS Energy (NYSE:CMS - Get Free Report) last announced its earnings results on Thursday, April 24th. The utilities provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.03). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.06%. CMS Energy's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, analysts expect that CMS Energy Corporation will post 3.59 earnings per share for the current year.

Insider Buying and Selling at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,198 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total transaction of $161,794.78. Following the sale, the senior vice president directly owned 69,571 shares of the company's stock, valued at $5,121,121.31. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is owned by insiders.

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.