Jennison Associates LLC Sells 37,711 Shares of CMS Energy Co. (NYSE:CMS)

Jennison Associates LLC lowered its stake in CMS Energy Co. (NYSE:CMS) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,075,180 shares of the utilities provider’s stock after selling 37,711 shares during the quarter. Jennison Associates LLC owned approximately 0.71% of CMS Energy worth $120,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in CMS Energy by 68.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 26,034 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of CMS Energy by 49.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 302,221 shares of the utilities provider’s stock valued at $16,051,000 after acquiring an additional 100,618 shares during the last quarter. New England Asset Management Inc. boosted its position in shares of CMS Energy by 38.8% during the 3rd quarter. New England Asset Management Inc. now owns 132,950 shares of the utilities provider’s stock valued at $7,061,000 after acquiring an additional 37,147 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of CMS Energy during the 4th quarter valued at about $4,390,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of CMS Energy during the 3rd quarter valued at about $4,209,000. Institutional investors own 93.57% of the company’s stock.

CMS Energy Price Performance

Shares of CMS Energy stock opened at $60.00 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The business’s 50 day simple moving average is $58.50 and its two-hundred day simple moving average is $57.29. The stock has a market capitalization of $17.92 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. CMS Energy Co. has a one year low of $49.87 and a one year high of $63.76.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Analysts forecast that CMS Energy Co. will post 3.33 EPS for the current year.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.43%. CMS Energy’s dividend payout ratio (DPR) is presently 68.44%.

Insider Activity

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMS shares. Scotiabank dropped their price target on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. lifted their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Royal Bank of Canada dropped their price target on CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Guggenheim raised CMS Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $64.00 in a report on Friday, February 2nd. Finally, UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

About CMS Energy

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.