Renaissance Technologies LLC Has $45.67 Million Position in CMS Energy Co. (NYSE:CMS)

Renaissance Technologies LLC lifted its holdings in shares of CMS Energy Co. (NYSE:CMS) by 155.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 767,100 shares of the utilities provider’s stock after buying an additional 466,500 shares during the period. Renaissance Technologies LLC’s holdings in CMS Energy were worth $45,665,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CMS. Massachusetts Financial Services Co. MA raised its holdings in CMS Energy by 101.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after acquiring an additional 3,473,977 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of CMS Energy by 320.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock worth $250,026,000 after purchasing an additional 3,282,697 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after buying an additional 2,786,071 shares during the last quarter. Norges Bank acquired a new stake in shares of CMS Energy in the 4th quarter valued at approximately $111,004,000. Finally, Capital International Investors grew its stake in shares of CMS Energy by 24.8% in the fourth quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after buying an additional 1,234,791 shares in the last quarter. Institutional investors own 93.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMS. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. KeyCorp raised their target price on shares of CMS Energy from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday. Barclays lifted their price target on CMS Energy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Evercore ISI upgraded CMS Energy to a “hold” rating in a research note on Friday, July 26th. Finally, Guggenheim lifted their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.75.

CMS Energy Price Performance

CMS Energy stock opened at $70.26 on Wednesday. The firm has a market cap of $20.98 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.75 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The stock’s fifty day moving average price is $65.68 and its two-hundred day moving average price is $62.07. CMS Energy Co. has a one year low of $49.87 and a one year high of $70.74.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.03. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business earned $0.75 earnings per share. CMS Energy’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. CMS Energy’s dividend payout ratio is 62.80%.

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.