Meeder Advisory Services Inc. Buys 1,937 Shares of CMS Energy Co. (NYSE:CMS)

Meeder Advisory Services Inc. grew its stake in CMS Energy Co. (NYSE:CMS) by 21.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,778 shares of the utilities provider’s stock after purchasing an additional 1,937 shares during the quarter. Meeder Advisory Services Inc.’s holdings in CMS Energy were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Scarborough Advisors LLC purchased a new stake in CMS Energy in the 4th quarter valued at about $29,000. Voisard Asset Management Group Inc. bought a new position in shares of CMS Energy in the fourth quarter valued at approximately $36,000. TruNorth Capital Management LLC increased its position in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 578 shares during the last quarter. Headlands Technologies LLC bought a new stake in CMS Energy during the first quarter worth $43,000. Finally, Innealta Capital LLC purchased a new position in CMS Energy in the second quarter worth $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

CMS Energy Price Performance

Shares of NYSE:CMS opened at $70.09 on Friday. The company has a 50 day moving average of $65.22 and a 200 day moving average of $61.86. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The stock has a market cap of $20.94 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.75 and a beta of 0.40. CMS Energy Co. has a 12 month low of $49.87 and a 12 month high of $70.12.

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

CMS Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 2nd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. CMS Energy’s dividend payout ratio (DPR) is presently 62.80%.

Analysts Set New Price Targets

A number of research firms have recently commented on CMS. Morgan Stanley lifted their target price on CMS Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. Scotiabank increased their target price on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of CMS Energy from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.33.

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.