Gabelli Funds LLC Trims Stock Holdings in CMS Energy Co. (NYSE:CMS)

Gabelli Funds LLC decreased its holdings in CMS Energy Co. (NYSE:CMS) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,817 shares of the utilities provider’s stock after selling 1,600 shares during the period. Gabelli Funds LLC owned 0.06% of CMS Energy worth $11,635,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CMS Energy by 16.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,451 shares of the utilities provider’s stock valued at $21,267,000 after acquiring an additional 49,630 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CMS Energy by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,374 shares of the utilities provider’s stock valued at $97,579,000 after acquiring an additional 40,302 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in CMS Energy by 68.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 26,034 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in CMS Energy by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,851 shares of the utilities provider’s stock valued at $60,326,000 after acquiring an additional 18,636 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in CMS Energy by 132.8% during the fourth quarter. Hsbc Holdings PLC now owns 1,071,473 shares of the utilities provider’s stock valued at $62,100,000 after acquiring an additional 611,282 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $59.98, for a total transaction of $99,986.66. Following the completion of the sale, 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. In the last ninety days, insiders have sold 6,027 shares of company stock valued at $365,651. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMS shares. BMO Capital Markets boosted their price objective on shares of CMS Energy from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. UBS Group lowered shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Thursday, April 4th. Scotiabank dropped their target price on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Morgan Stanley dropped their target price on shares of CMS Energy from $61.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, Guggenheim lifted their target price on shares of CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

CMS Energy Trading Down 0.4 %

Shares of CMS traded down $0.25 during mid-day trading on Friday, reaching $62.96. The company’s stock had a trading volume of 1,609,165 shares, compared to its average volume of 1,826,400. The stock has a market cap of $18.80 billion, a PE ratio of 19.20, a P/E/G ratio of 2.50 and a beta of 0.38. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 1.90. CMS Energy Co. has a 52 week low of $49.87 and a 52 week high of $64.28. The company’s fifty day moving average price is $60.66 and its two-hundred day moving average price is $59.44.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. On average, analysts predict that CMS Energy Co. will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.24%. CMS Energy’s dividend payout ratio is currently 62.80%.

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.