Prospera Financial Services Inc Decreases Holdings in CMS Energy Co. (NYSE:CMS)

Prospera Financial Services Inc lowered its holdings in CMS Energy Co. (NYSE:CMS) by 13.0% during the third quarter, HoldingsChannel reports. The fund owned 12,330 shares of the utilities provider’s stock after selling 1,843 shares during the period. Prospera Financial Services Inc’s holdings in CMS Energy were worth $871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. TruNorth Capital Management LLC increased its stake in CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the last quarter. Innealta Capital LLC acquired a new stake in CMS Energy during the 2nd quarter worth $43,000. Covestor Ltd raised its stake in CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares in the last quarter. Values First Advisors Inc. acquired a new stake in CMS Energy during the 3rd quarter worth $56,000. Finally, Voisard Asset Management Group Inc. raised its stake in CMS Energy by 25.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

Insider Buying and Selling

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares of the company’s stock, valued at $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays lifted their price target on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley cut their price target on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets cut their price target on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Jefferies Financial Group assumed coverage on shares of CMS Energy in a research note on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.21.

CMS Energy Trading Up 0.4 %

Shares of CMS Energy stock opened at $69.52 on Friday. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.41. CMS Energy Co. has a 52-week low of $55.10 and a 52-week high of $72.40. The company’s 50-day simple moving average is $69.72 and its 200-day simple moving average is $65.48. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, equities research analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 2.96%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s payout ratio is currently 58.86%.

CMS Energy Company 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.