Pitcairn Co. Cuts Stake in CMS Energy Co. (CMS)

Pitcairn Co. cut its position in CMS Energy Co. (NYSE:CMS) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,630 shares of the utilities provider’s stock after selling 89 shares during the period. Pitcairn Co.’s holdings in CMS Energy were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CMS. Quadrant Capital Group LLC raised its stake in CMS Energy by 5.7% in the first quarter. Quadrant Capital Group LLC now owns 2,701 shares of the utilities provider’s stock valued at $118,000 after buying an additional 145 shares during the last quarter. Bessemer Group Inc. raised its stake in CMS Energy by 3,803.6% in the fourth quarter. Bessemer Group Inc. now owns 4,372 shares of the utilities provider’s stock valued at $182,000 after buying an additional 4,260 shares during the last quarter. Parametrica Management Ltd purchased a new stake in CMS Energy during the first quarter valued at approximately $200,000. Brown Advisory Inc. purchased a new stake in CMS Energy during the fourth quarter valued at approximately $203,000. Finally, Blue Chip Partners Inc. raised its stake in CMS Energy by 0.7% in the first quarter. Blue Chip Partners Inc. now owns 4,610 shares of the utilities provider’s stock valued at $206,000 after buying an additional 34 shares during the last quarter. 88.34% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for CMS Energy (NYSE:CMS)

Shares of CMS Energy Co. (NYSE:CMS) traded up 0.66% on Friday, reaching $46.05. The company’s stock had a trading volume of 2,110,728 shares. The company has a 50 day moving average of $45.26 and a 200 day moving average of $43.02. CMS Energy Co. has a 1-year low of $38.78 and a 1-year high of $46.25. The stock has a market capitalization of $12.89 billion, a P/E ratio of 21.92 and a beta of 0.08.

CMS Energy (NYSE:CMS) last posted its earnings results on Monday, May 1st. The utilities provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.06. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. CMS Energy had a return on equity of 13.31% and a net margin of 8.61%. CMS Energy’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts expect that CMS Energy Co. will post $2.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Friday, May 5th will be given a dividend of $0.3325 per share. The ex-dividend date is Wednesday, May 3rd. This represents a $1.33 dividend on an annualized basis and a yield of 2.91%. CMS Energy’s payout ratio is 66.83%.

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Several research firms have commented on CMS. BMO Capital Markets reissued a “buy” rating and set a $48.00 price target on shares of CMS Energy in a research report on Tuesday, May 2nd. Barclays PLC restated an “equal weight” rating and set a $49.00 price objective (up previously from $44.00) on shares of CMS Energy in a report on Sunday, April 23rd. Deutsche Bank AG upped their price objective on shares of CMS Energy from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Zacks Investment Research downgraded shares of CMS Energy from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Finally, Evercore ISI upgraded shares of CMS Energy to an “outperform” rating in a report on Monday, March 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $46.60.

In other CMS Energy news, insider Dhenuvakonda Rao Venkat sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $45.50, for a total transaction of $91,000.00. Following the sale, the insider now directly owns 30,022 shares in the company, valued at $1,366,001. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Catherine M. Reynolds sold 10,246 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $45.49, for a total value of $466,090.54. Following the sale, the senior vice president now owns 113,956 shares in the company, valued at $5,183,858.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,246 shares of company stock worth $1,279,011. 0.93% of the stock is owned by company insiders.

About CMS Energy

CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.

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