CMS Energy Co. (NYSE:CMS) Stock Holdings Cut by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC cut its position in shares of CMS Energy Co. (NYSE:CMS - Free Report) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,009,193 shares of the utilities provider's stock after selling 118,518 shares during the quarter. CMS Energy comprises 5.7% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 5th biggest holding. HITE Hedge Asset Management LLC owned approximately 0.34% of CMS Energy worth $60,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in CMS Energy by 14.0% during the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider's stock valued at $1,367,483,000 after buying an additional 2,786,071 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider's stock worth $410,223,000 after purchasing an additional 3,473,977 shares in the last quarter. Capital International Investors grew its position in CMS Energy by 24.8% during the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider's stock valued at $360,537,000 after purchasing an additional 1,234,791 shares during the last quarter. Capital Research Global Investors grew its position in CMS Energy by 1.2% during the 4th quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider's stock valued at $324,817,000 after purchasing an additional 65,966 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider's stock valued at $250,026,000 after purchasing an additional 3,282,697 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

CMS Energy Price Performance

Shares of NYSE CMS traded down $0.25 during midday trading on Wednesday, reaching $69.83. The stock had a trading volume of 1,814,061 shares, compared to its average volume of 2,317,159. CMS Energy Co. has a 12-month low of $49.87 and a 12-month high of $70.95. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 2.80 and a beta of 0.40. The stock has a 50-day moving average of $66.62 and a 200-day moving average of $62.43.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The firm's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, research analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. CMS Energy's payout ratio is 62.80%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of CMS Energy from $68.00 to $73.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Barclays increased their target price on CMS Energy from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 13th. Scotiabank upped their price target on CMS Energy from $66.00 to $75.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on CMS Energy from $66.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Finally, StockNews.com raised shares of CMS Energy from a "sell" rating to a "hold" rating in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, CMS Energy presently has an average rating of "Moderate Buy" and a consensus price target of $68.17.

CMS Energy 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.