Reaves W H & Co. Inc. Lowers Stock Position in CMS Energy Corporation (NYSE:CMS)

Key Points

• Reaves W H & Co. Inc. has significantly reduced its stake in CMS Energy Corporation by selling 916,903 shares, resulting in a 71.7% decrease in ownership.
• Several institutional investors have recently modified their stakes in CMS Energy, including Optiver Holding B.V. increasing its holdings by 39.2% and Grove Bank & Trust raising its stake by 167.3%.
• The company announced a quarterly dividend of $0.5425 per share, representing a 2.9% yield, with the ex-dividend date set for August 8th.

Reaves W H & Co. Inc. reduced its position in shares of CMS Energy Corporation (NYSE:CMS - Free Report) by 71.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,378 shares of the utilities provider's stock after selling 916,903 shares during the period. Reaves W H & Co. Inc. owned about 0.12% of CMS Energy worth $27,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CMS. Price T Rowe Associates Inc. MD boosted its holdings in CMS Energy by 32.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider's stock valued at $950,227,000 after purchasing an additional 3,486,074 shares during the period. Northern Trust Corp boosted its holdings in CMS Energy by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,986,489 shares of the utilities provider's stock valued at $199,049,000 after purchasing an additional 311,489 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CMS Energy by 21.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,624,075 shares of the utilities provider's stock valued at $174,895,000 after purchasing an additional 468,233 shares during the period. Perpetual Ltd boosted its holdings in CMS Energy by 3.9% in the first quarter. Perpetual Ltd now owns 2,155,984 shares of the utilities provider's stock valued at $161,936,000 after purchasing an additional 81,867 shares during the period. Finally, Truist Financial Corp boosted its holdings in CMS Energy by 8.4% in the first quarter. Truist Financial Corp now owns 1,757,747 shares of the utilities provider's stock valued at $132,024,000 after purchasing an additional 136,185 shares during the period. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CMS shares. Jefferies Financial Group lifted their target price on CMS Energy from $77.00 to $83.00 and gave the company a "buy" rating in a report on Monday, April 21st. Wells Fargo & Company raised their price target on CMS Energy from $78.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Barclays raised their price target on CMS Energy from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Evercore ISI raised their price target on CMS Energy from $73.00 to $76.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Finally, Wolfe Research restated a "peer perform" rating on shares of CMS Energy in a research note on Monday, July 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $77.25.

CMS Energy Stock Performance

Shares of CMS traded down $1.02 during midday trading on Friday, reaching $73.52. 2,571,411 shares of the stock were exchanged, compared to its average volume of 2,147,426. The business's 50-day moving average price is $70.93 and its 200 day moving average price is $71.15. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.00 and a quick ratio of 0.77. CMS Energy Corporation has a twelve month low of $63.97 and a twelve month high of $76.45. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.77 and a beta of 0.36.

CMS Energy (NYSE:CMS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.68 billion. CMS Energy had a return on equity of 12.07% and a net margin of 12.76%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, sell-side analysts expect that CMS Energy Corporation will post 3.59 EPS for the current fiscal 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 given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 3.0%. 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.