Hennessy Advisors Inc. Sells 6,300 Shares of CMS Energy Co. (NYSE:CMS)

Hennessy Advisors Inc. decreased its stake in shares of CMS Energy Co. (NYSE:CMS) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,898 shares of the utilities provider’s stock after selling 6,300 shares during the period. Hennessy Advisors Inc. owned approximately 0.06% of CMS Energy worth $10,372,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CMS. Headinvest LLC bought a new position in CMS Energy in the third quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in CMS Energy in the fourth quarter valued at $29,000. Voisard Asset Management Group Inc. acquired a new stake in CMS Energy in the fourth quarter valued at $36,000. Tobam lifted its stake in CMS Energy by 2,432.3% in the fourth quarter. Tobam now owns 785 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 754 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in CMS Energy by 30.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Performance

Shares of NYSE CMS traded down $0.70 during mid-day trading on Friday, reaching $59.26. 899,974 shares of the company were exchanged, compared to its average volume of 2,435,729. CMS Energy Co. has a twelve month low of $49.87 and a twelve month high of $63.76. The company has a quick ratio of 1.05, a current ratio of 1.35 and a debt-to-equity ratio of 1.82. The company’s 50-day simple moving average is $61.04 and its 200-day simple moving average is $59.11. The stock has a market capitalization of $17.66 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.37 and a beta of 0.40.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s revenue was down 4.7% on a year-over-year basis. As a group, research analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.48%. The ex-dividend date was Tuesday, May 14th. CMS Energy’s dividend payout ratio (DPR) is 62.80%.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 1,667 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the transaction, the senior vice president now directly owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $60.79, for a total value of $143,464.40. Following the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $884,859.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the transaction, the senior vice president now directly owns 68,330 shares in the company, valued at $4,098,433.40. The disclosure for this sale can be found here. Insiders sold 6,027 shares of company stock worth $365,651 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CMS has been the subject of a number of recent analyst reports. KeyCorp increased their price target on shares of CMS Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley cut their price target on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Royal Bank of Canada cut their price target on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.20.

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.