Sigma Planning Corp Trims Stock Position in CMS Energy Co. (NYSE:CMS)

Sigma Planning Corp cut its position in CMS Energy Co. (NYSE:CMS) by 17.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,733 shares of the utilities provider’s stock after selling 7,370 shares during the quarter. Sigma Planning Corp’s holdings in CMS Energy were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Covestor Ltd increased its holdings in shares of CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 472 shares during the period. Atria Investments Inc raised its holdings in shares of CMS Energy by 1.3% in the 3rd quarter. Atria Investments Inc now owns 22,534 shares of the utilities provider’s stock valued at $1,592,000 after acquiring an additional 287 shares in the last quarter. Assetmark Inc. boosted its position in shares of CMS Energy by 5.8% during the 3rd quarter. Assetmark Inc. now owns 83,176 shares of the utilities provider’s stock valued at $5,875,000 after acquiring an additional 4,562 shares during the last quarter. Stiles Financial Services Inc purchased a new position in shares of CMS Energy during the third quarter worth about $231,000. Finally, Principal Financial Group Inc. increased its position in shares of CMS Energy by 7.6% in the third quarter. Principal Financial Group Inc. now owns 408,331 shares of the utilities provider’s stock worth $28,840,000 after purchasing an additional 28,695 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. KeyCorp increased their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Bank of America raised their price target on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank upped their price objective on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com cut CMS Energy from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, Morgan Stanley upped their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.29.

CMS Energy Stock Performance

Shares of NYSE:CMS opened at $68.62 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.67 and a beta of 0.41. CMS Energy Co. has a 12 month low of $54.99 and a 12 month high of $72.40. The company has a 50-day moving average price of $69.82 and a 200-day moving average price of $65.00.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business posted $0.61 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.515 dividend. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.00%. CMS Energy’s dividend payout ratio is 58.86%.

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.