Longboard Asset Management LP Purchases Shares of 2,982 CMS Energy Corporation (NYSE:CMS)

Longboard Asset Management LP acquired a new position in shares of CMS Energy Corporation (NYSE:CMS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 2,982 shares of the utilities provider’s stock, valued at approximately $224,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of CMS Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 38,175,088 shares of the utilities provider’s stock worth $2,544,370,000 after buying an additional 316,011 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in CMS Energy by 32.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,256,949 shares of the utilities provider’s stock worth $950,227,000 after purchasing an additional 3,486,074 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in CMS Energy by 28.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,741,389 shares of the utilities provider’s stock worth $649,264,000 after purchasing an additional 2,131,269 shares during the period. Geode Capital Management LLC grew its holdings in CMS Energy by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,608,680 shares of the utilities provider’s stock worth $505,869,000 after purchasing an additional 98,910 shares during the period. Finally, Northern Trust Corp grew its holdings in CMS Energy by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,986,489 shares of the utilities provider’s stock worth $199,049,000 after purchasing an additional 311,489 shares during the period. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMS has been the subject of a number of research reports. Scotiabank restated an “outperform” rating and issued a $81.00 price target (up from $77.00) on shares of CMS Energy in a report on Friday, April 25th. Wells Fargo & Company raised their price target on shares of CMS Energy from $78.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. UBS Group raised their price target on shares of CMS Energy from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Evercore ISI raised their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “in-line” rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered shares of CMS Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CMS Energy has a consensus rating of “Hold” and an average target price of $77.00.

CMS Energy Stock Up 0.3%

CMS opened at $69.00 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.06 and a quick ratio of 0.84. The company’s 50-day moving average is $71.19 and its 200 day moving average is $70.06. CMS Energy Corporation has a fifty-two week low of $58.50 and a fifty-two week high of $76.45. The firm has a market capitalization of $20.64 billion, a P/E ratio of 20.47, a PEG ratio of 2.46 and a beta of 0.39.

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

CMS Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 9th were issued a dividend of $0.5425 per share. The ex-dividend date was Friday, May 9th. This represents a $2.17 dividend on an annualized basis and a yield of 3.15%. CMS Energy’s dividend payout ratio (DPR) is presently 64.39%.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 2,198 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $73.61, for a total transaction of $161,794.78. Following the completion of the sale, the senior vice president now owns 69,571 shares in the company, valued at approximately $5,121,121.31. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

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.