Hennessy Advisors Inc. Reduces Stock Holdings in CMS Energy Co. (NYSE:CMS)
Hennessy Advisors Inc. lowered its position in CMS Energy Co. (NYSE:CMS) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 370,998 shares of the utilities provider’s stock after selling 11,000 shares during the quarter. CMS Energy comprises approximately 1.2% of Hennessy Advisors Inc.’s portfolio, making the stock its 16th largest holding. Hennessy Advisors Inc. owned approximately 0.13% of CMS Energy worth $23,314,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. 6 Meridian grew its position in CMS Energy by 3.8% in the 4th quarter. 6 Meridian now owns 9,451 shares of the utilities provider’s stock worth $594,000 after purchasing an additional 346 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in shares of CMS Energy by 0.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 42,521 shares of the utilities provider’s stock worth $2,719,000 after buying an additional 168 shares during the last quarter. Millennium Management LLC increased its holdings in shares of CMS Energy by 37.3% in the 3rd quarter. Millennium Management LLC now owns 2,202,394 shares of the utilities provider’s stock worth $140,843,000 after buying an additional 597,905 shares during the last quarter. Man Group plc increased its holdings in shares of CMS Energy by 52.4% in the 3rd quarter. Man Group plc now owns 290,595 shares of the utilities provider’s stock worth $18,583,000 after buying an additional 99,913 shares during the last quarter. Finally, National Pension Service increased its holdings in shares of CMS Energy by 5.5% in the 3rd quarter. National Pension Service now owns 402,020 shares of the utilities provider’s stock worth $25,709,000 after buying an additional 20,992 shares during the last quarter. 92.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jon E. Barfield sold 8,390 shares of CMS Energy stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $60.75, for a total value of $509,692.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John G. Russell sold 5,600 shares of CMS Energy stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $63.48, for a total transaction of $355,488.00. Following the completion of the transaction, the director now owns 206,911 shares of the company’s stock, valued at approximately $13,134,710.28. The disclosure for this sale can be found here. Insiders sold 26,690 shares of company stock valued at $1,651,360 in the last 90 days. Company insiders own 0.52% of the company’s stock.
CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 24th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.65 billion. CMS Energy had a net margin of 9.03% and a return on equity of 12.80%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that CMS Energy Co. will post 2.49 EPS for the current year.
CMS has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of CMS Energy from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Morgan Stanley cut their price target on shares of CMS Energy from $65.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. SunTrust Banks upped their price target on shares of CMS Energy from $62.00 to $63.00 and gave the company a “hold” rating in a report on Monday, September 30th. Zacks Investment Research downgraded shares of CMS Energy from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a report on Monday, September 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of CMS Energy in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $63.55.
CMS Energy Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates in three segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. The segment generates electricity through coal, gas, renewable energy, oil, and nuclear sources.
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