Assetmark Inc. Buys 2,976 Shares of CMS Energy Corporation (NYSE:CMS)

Assetmark Inc. lifted its stake in shares of CMS Energy Corporation (NYSE:CMS) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,867 shares of the utilities provider’s stock after purchasing an additional 2,976 shares during the period. Assetmark Inc.’s holdings in CMS Energy were worth $6,900,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Optiver Holding B.V. raised its stake in shares of CMS Energy by 39.2% during the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider’s stock worth $54,000 after buying an additional 229 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in CMS Energy during the 4th quarter worth $61,000. Bernard Wealth Management Corp. bought a new stake in shares of CMS Energy during the 1st quarter valued at $72,000. NBC Securities Inc. acquired a new position in shares of CMS Energy in the 1st quarter valued at $75,000. Finally, Covestor Ltd boosted its position in shares of CMS Energy by 51.9% in the 4th quarter. Covestor Ltd now owns 1,065 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 364 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMS has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of CMS Energy from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Wolfe Research restated a “peer perform” rating on shares of CMS Energy in a research report on Monday, July 7th. Wall Street Zen lowered CMS Energy from a “hold” rating to a “sell” rating in a report on Saturday. Scotiabank reissued an “outperform” rating and issued a $81.00 target price (up from $77.00) on shares of CMS Energy in a research note on Friday, April 25th. Finally, Morgan Stanley set a $71.00 price target on CMS Energy and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.25.

CMS Energy Stock Performance

NYSE:CMS opened at $72.84 on Monday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.84 and a current ratio of 1.06. CMS Energy Corporation has a fifty-two week low of $62.73 and a fifty-two week high of $76.45. The company has a 50 day simple moving average of $70.27 and a two-hundred day simple moving average of $70.75. The company has a market capitalization of $21.79 billion, a PE ratio of 21.61, a P/E/G ratio of 2.71 and a beta of 0.38.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.03). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Research analysts anticipate that CMS Energy Corporation will post 3.59 earnings per share for the current year.

CMS Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be issued a $0.5425 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.17 annualized dividend and a yield of 2.98%. CMS Energy’s payout ratio is currently 64.39%.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 2,198 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $73.61, for a total value of $161,794.78. Following the transaction, the senior vice president directly owned 69,571 shares in the company, valued at $5,121,121.31. This trade represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.49% of the company’s stock.

CMS Energy Profile

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.