Sumitomo Mitsui Asset Management Company LTD Reduces Position in CMS Energy Co. (CMS)

Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of CMS Energy Co. (NYSE:CMS) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,354 shares of the utilities provider’s stock after selling 1,624 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in CMS Energy were worth $5,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CMS. Dimensional Fund Advisors LP lifted its holdings in CMS Energy by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 699,810 shares of the utilities provider’s stock worth $31,693,000 after purchasing an additional 17,015 shares during the last quarter. Stifel Financial Corp lifted its holdings in CMS Energy by 21.1% during the 1st quarter. Stifel Financial Corp now owns 33,172 shares of the utilities provider’s stock worth $1,505,000 after purchasing an additional 5,788 shares during the last quarter. UBS Group AG lifted its holdings in CMS Energy by 30.4% during the 1st quarter. UBS Group AG now owns 189,052 shares of the utilities provider’s stock worth $8,562,000 after purchasing an additional 44,123 shares during the last quarter. United Capital Financial Advisers LLC acquired a new stake in CMS Energy during the 1st quarter worth approximately $340,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in CMS Energy by 14.4% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,695 shares of the utilities provider’s stock worth $1,163,000 after purchasing an additional 3,226 shares during the last quarter. 89.63% of the stock is owned by institutional investors and hedge funds.

In other news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of CMS Energy stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $48.77, for a total value of $48,770.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jon E. Barfield sold 2,861 shares of CMS Energy stock in a transaction on Monday, August 13th. The shares were sold at an average price of $48.45, for a total value of $138,615.45. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

CMS Energy stock opened at $49.87 on Thursday. CMS Energy Co. has a one year low of $40.48 and a one year high of $51.36. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.68 and a current ratio of 0.90. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 3.39 and a beta of 0.02.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 26th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. CMS Energy had a return on equity of 15.14% and a net margin of 8.13%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company posted $0.33 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that CMS Energy Co. will post 2.34 earnings per share for the current fiscal year.

CMS has been the subject of several research reports. Citigroup lifted their price target on CMS Energy from $46.00 to $49.00 and gave the stock a “hold” rating in a report on Monday, July 9th. ValuEngine raised CMS Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Barclays assumed coverage on CMS Energy in a research note on Wednesday, August 15th. They set an “equal weight” rating and a $51.00 price objective on the stock. Zacks Investment Research lowered CMS Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, KeyCorp restated a “buy” rating and set a $51.00 price objective on shares of CMS Energy in a research note on Thursday, August 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.40.

CMS Energy Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. It operates through three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution, and sale of electricity. It generates electricity through fossil-fuel-fired plants, as well as renewable energy and nuclear sources.

Further Reading: Technical Analysis of Stocks and What It Means

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

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