Jennison Associates LLC Sells 91,485 Shares of CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC cut its holdings in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,959,497 shares of the utilities provider's stock after selling 91,485 shares during the quarter. Jennison Associates LLC owned about 0.66% of CMS Energy worth $138,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC raised its stake in shares of CMS Energy by 12.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 23,152 shares of the utilities provider's stock valued at $1,397,000 after buying an additional 2,545 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of CMS Energy by 80.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 16,328 shares of the utilities provider's stock valued at $985,000 after buying an additional 7,256 shares during the last quarter. Seven Eight Capital LP acquired a new position in CMS Energy during the 1st quarter worth about $820,000. American International Group Inc. grew its holdings in CMS Energy by 0.6% during the 1st quarter. American International Group Inc. now owns 76,972 shares of the utilities provider's stock worth $4,644,000 after acquiring an additional 472 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of CMS Energy in the first quarter worth about $124,000. Institutional investors and hedge funds own 93.57% of the company's stock.

Analyst Upgrades and Downgrades

CMS has been the topic of several recent research reports. Barclays raised their target price on shares of CMS Energy from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. StockNews.com cut shares of CMS Energy from a "hold" rating to a "sell" rating in a research report on Wednesday. Scotiabank raised their price target on CMS Energy from $66.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th. Bank of America upped their price objective on CMS Energy from $69.00 to $73.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of CMS Energy in a report on Tuesday, November 5th. They set a "buy" rating and a $76.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, CMS Energy has an average rating of "Moderate Buy" and a consensus price target of $70.29.

CMS Energy Trading Up 0.3 %

Shares of NYSE:CMS traded up $0.20 during mid-day trading on Wednesday, reaching $68.77. 1,091,319 shares of the company's stock were exchanged, compared to its average volume of 2,274,920. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.72 and a beta of 0.41. CMS Energy Co. has a twelve month low of $55.10 and a twelve month high of $72.40. The business's fifty day moving average price is $69.75 and its 200-day moving average price is $65.38. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the company posted $0.61 earnings per share. The business's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from CMS Energy's previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 3.00%. CMS Energy's payout ratio is presently 58.86%.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the transaction, the senior vice president now owns 64,771 shares in the company, valued at $4,415,439.07. This represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

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.