Rehmann Capital Advisory Group lessened its stake in CMS Energy Co. (NYSE:CMS) by 23.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,599 shares of the utilities provider’s stock after selling 1,707 shares during the period. Rehmann Capital Advisory Group’s holdings in CMS Energy were worth $324,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Exchange Capital Management Inc. boosted its holdings in CMS Energy by 5.8% in the 2nd quarter. Exchange Capital Management Inc. now owns 73,409 shares of the utilities provider’s stock valued at $4,251,000 after purchasing an additional 4,014 shares in the last quarter. Aperio Group LLC boosted its holdings in CMS Energy by 1.5% in the 2nd quarter. Aperio Group LLC now owns 157,389 shares of the utilities provider’s stock valued at $9,114,000 after purchasing an additional 2,354 shares in the last quarter. Scout Investments Inc. boosted its holdings in CMS Energy by 72.4% in the 2nd quarter. Scout Investments Inc. now owns 1,508,302 shares of the utilities provider’s stock valued at $87,346,000 after purchasing an additional 633,549 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in CMS Energy by 7.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,699,508 shares of the utilities provider’s stock valued at $98,418,000 after purchasing an additional 114,603 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in CMS Energy in the 2nd quarter valued at approximately $227,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.
In related news, Director John G. Russell sold 33,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $63.02, for a total value of $2,111,170.00. Following the sale, the director now owns 223,711 shares of the company’s stock, valued at approximately $14,098,267.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John G. Russell sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $64.04, for a total value of $358,624.00. Following the completion of the sale, the director now directly owns 212,511 shares in the company, valued at approximately $13,609,204.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,300 shares of company stock worth $5,432,186. 0.52% of the stock is owned by corporate insiders.
CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.11). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. CMS Energy had a return on equity of 12.13% and a net margin of 8.41%. CMS Energy’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Equities research analysts anticipate that CMS Energy Co. will post 2.49 earnings per share for the current fiscal year.
A number of brokerages have weighed in on CMS. ValuEngine lowered CMS Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays reaffirmed a “hold” rating and issued a $61.00 price objective on shares of CMS Energy in a report on Thursday, June 20th. Argus set a $66.00 price objective on CMS Energy and gave the company a “buy” rating in a report on Monday, August 12th. Morgan Stanley lifted their price objective on CMS Energy from $59.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Finally, Zacks Investment Research lowered CMS Energy from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a research note on Monday, September 23rd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.46.
About CMS Energy
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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