AdvisorNet Financial Inc increased its stake in CMS Energy Co. (NYSE:CMS – Get Rating) by 48.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 886 shares of the utilities provider's stock after purchasing an additional 291 shares during the period. AdvisorNet Financial Inc's holdings in CMS Energy were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in CMS Energy by 4.1% in the 4th quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider's stock worth $1,710,283,000 after purchasing an additional 1,029,930 shares during the period. State Street Corp boosted its stake in CMS Energy by 11.0% in the 1st quarter. State Street Corp now owns 16,331,901 shares of the utilities provider's stock worth $1,142,253,000 after purchasing an additional 1,613,255 shares during the period. JPMorgan Chase & Co. boosted its stake in CMS Energy by 1.3% in the 1st quarter. JPMorgan Chase & Co. now owns 16,190,977 shares of the utilities provider's stock worth $1,132,395,000 after purchasing an additional 214,355 shares during the period. Invesco Ltd. boosted its stake in CMS Energy by 0.3% in the 1st quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider's stock worth $291,830,000 after purchasing an additional 13,528 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in CMS Energy by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,105,181 shares of the utilities provider's stock worth $287,117,000 after purchasing an additional 296,933 shares during the period. 92.62% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of CMS Energy from $76.00 to $72.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Morgan Stanley cut their price target on shares of CMS Energy from $69.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Thursday. BMO Capital Markets cut their price target on shares of CMS Energy from $80.00 to $71.00 and set an "outperform" rating on the stock in a research report on Monday, June 27th. Finally, Mizuho cut their price target on shares of CMS Energy from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, June 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, CMS Energy currently has a consensus rating of "Hold" and an average target price of $70.80.
CMS Energy Stock Down 0.2 %
Shares of CMS stock opened at $65.78 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.65 and a current ratio of 1.00. The firm's 50-day moving average is $68.05 and its 200-day moving average is $68.30. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 2.80 and a beta of 0.28. CMS Energy Co. has a 52-week low of $58.51 and a 52-week high of $73.76.
CMS Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Tuesday, September 6th will be issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 27.36%. This is a boost from CMS Energy's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 2nd. CMS Energy's dividend payout ratio is presently 40.44%.
CMS Energy Profile
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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.
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