State Street Corp Cuts Holdings in CMS Energy Corporation (CMS)

State Street Corp lowered its holdings in shares of CMS Energy Corporation (NYSE:CMS) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,908,033 shares of the utilities provider’s stock after selling 307,241 shares during the period. State Street Corp owned about 4.94% of CMS Energy Corporation worth $643,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CMS. UBS Asset Management Americas Inc. raised its position in CMS Energy Corporation by 9.3% during the first quarter. UBS Asset Management Americas Inc. now owns 923,022 shares of the utilities provider’s stock worth $41,296,000 after acquiring an additional 78,811 shares during the last quarter. Oxford Asset Management acquired a new position in CMS Energy Corporation during the first quarter worth about $335,000. Pacer Advisors Inc. raised its position in CMS Energy Corporation by 3.5% during the first quarter. Pacer Advisors Inc. now owns 4,662 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 157 shares during the last quarter. Van ECK Associates Corp raised its position in CMS Energy Corporation by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,421 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 370 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in CMS Energy Corporation by 1.5% during the first quarter. Principal Financial Group Inc. now owns 437,746 shares of the utilities provider’s stock worth $19,584,000 after acquiring an additional 6,427 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

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CMS Energy Corporation (NYSE CMS) opened at 47.21 on Wednesday. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 23.84 and a beta of 0.15. The stock has a 50 day moving average of $47.56 and a 200-day moving average of $46.63. CMS Energy Corporation has a 52-week low of $38.78 and a 52-week high of $49.11.

CMS Energy Corporation (NYSE:CMS) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.36 billion. CMS Energy Corporation had a return on equity of 12.98% and a net margin of 8.52%. CMS Energy Corporation’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. On average, analysts expect that CMS Energy Corporation will post $2.17 EPS for the current year.

In other news, Director Jon E. Barfield sold 6,336 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $46.81, for a total value of $296,588.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Garrick J. Rochow sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $47.81, for a total transaction of $95,620.00. Following the completion of the sale, the insider now directly owns 64,307 shares of the company’s stock, valued at $3,074,517.67. The disclosure for this sale can be found here. Insiders sold 11,836 shares of company stock valued at $561,118 over the last three months. 0.65% of the stock is owned by insiders.

CMS has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of CMS Energy Corporation from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. KeyCorp reissued a “buy” rating and issued a $51.00 price objective on shares of CMS Energy Corporation in a research report on Friday, September 1st. BidaskClub raised shares of CMS Energy Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Credit Suisse Group raised shares of CMS Energy Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $46.00 to $50.00 in a research report on Monday, July 24th. Finally, Guggenheim started coverage on shares of CMS Energy Corporation in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $48.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $48.56.

CMS Energy Corporation Company Profile

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

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