Ferguson Wellman Capital Management Inc. Sells 1,802 Shares of CMS Energy Co. (NYSE:CMS)

Ferguson Wellman Capital Management Inc. reduced its stake in CMS Energy Co. (NYSE:CMS) by 6.7% during the third quarter, HoldingsChannel.com reports. The firm owned 24,946 shares of the utilities provider’s stock after selling 1,802 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in CMS Energy were worth $1,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TruNorth Capital Management LLC grew its position in CMS Energy by 431.3% during the 2nd quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of CMS Energy in the first quarter worth approximately $43,000. Innealta Capital LLC purchased a new stake in shares of CMS Energy during the second quarter valued at approximately $43,000. DT Investment Partners LLC increased its position in shares of CMS Energy by 594.5% during the second quarter. DT Investment Partners LLC now owns 1,007 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 862 shares in the last quarter. Finally, Tobam raised its holdings in CMS Energy by 31.7% in the 3rd quarter. Tobam now owns 868 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Stock Up 0.4 %

CMS opened at $71.29 on Friday. CMS Energy Co. has a 1-year low of $52.12 and a 1-year high of $71.57. The firm’s 50 day simple moving average is $68.99 and its two-hundred day simple moving average is $63.82. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $21.29 billion, a PE ratio of 21.73, a PEG ratio of 2.77 and a beta of 0.41.

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

CMS Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Friday, August 2nd. CMS Energy’s payout ratio is 62.80%.

Analyst Ratings Changes

Several brokerages have commented on CMS. KeyCorp increased their target price on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. Morgan Stanley boosted their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays raised their price target on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Bank of America boosted their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

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.