Choreo LLC Takes Position in CMS Energy Co. (NYSE:CMS)

Choreo LLC acquired a new stake in shares of CMS Energy Co. (NYSE:CMS – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 7,805 shares of the utilities provider’s stock, valued at approximately $460,000.

Other hedge funds have recently modified their positions in the company. Principal Securities Inc. bought a new stake in CMS Energy in the fourth quarter valued at about $61,000. QRG Capital Management Inc. boosted its holdings in CMS Energy by 10.5% during the fourth quarter. QRG Capital Management Inc. now owns 8,286 shares of the utilities provider’s stock worth $481,000 after buying an additional 784 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $60,326,000 after purchasing an additional 18,636 shares during the last quarter. Principal Financial Group Inc. raised its holdings in CMS Energy by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 372,364 shares of the utilities provider’s stock worth $21,623,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in CMS Energy by 16.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 20,640 shares of the utilities provider’s stock worth $1,199,000 after buying an additional 2,852 shares during the last quarter. Institutional investors own 93.57% of the company’s shares.

Analysts set new price targets

Several equities research analysts have recently commented on CMS shares. Bank of America upped their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI raised CMS Energy to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company upped their target price on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Scotiabank boosted their price target on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Guggenheim upped their target price on CMS Energy from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CMS Energy currently has an average rating of “Moderate Buy” and an average price target of $67.33, according to MarketBeat .

Check out our latest report on CMS

CMS Energy trading up 1.1%

Shares of CMS Energy stock opened at $70.09 on Monday. The company’s fifty-day simple moving average is $65.22, and its 200-day simple moving average is $61.90. The company has a quick ratio of 0.87, a current ratio of 1.18, and a debt-to-equity ratio of 1.80. CMS Energy Co. has a 12-month low of $49.87 and a 12-month high of $70.12. The stock has a market cap of $20.94 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.75 and a beta of 0.40.

CMS Energy (NYSE:CMS – Get Your Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company posted EPS of $0.75. CMS Energy’s revenue was up 3.3% year-over-year. As a group, sell-side analysts estimate that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS cuts energy dividends

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.51 per share. This represents an annualized dividend of $2.04 and a dividend yield of 2.91%. The ex-dividend date was Friday, August 2. CMS Energy’s dividend payout ratio is currently 62.80%.

CMS energy profile

(Free report)

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electricity; Utility gas; 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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