85,064 Shares in CMS Energy Corporation $CMS Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in CMS Energy Corporation (NYSE:CMS) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 85,064 shares of the utilities provider’s stock, valued at approximately $5,366,000.

A number of other large investors have also modified their holdings of the business. VestGen Advisors LLC increased its holdings in shares of CMS Energy by 4.9% in the third quarter. VestGen Advisors LLC now owns 3,653 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 170 shares during the last quarter. Lido Advisors LLC raised its position in CMS Energy by 1.0% in the first quarter. Lido Advisors LLC now owns 18,123 shares of the utilities provider’s stock valued at $1,406,000 after purchasing an additional 174 shares during the period. NewEdge Advisors LLC raised its holdings in shares of CMS Energy by 0.7% in the 1st quarter. NewEdge Advisors LLC now owns 26,328 shares of the utilities provider’s stock valued at $2,043,000 after buying an additional 174 shares during the period. Kera Capital Partners Inc. raised its holdings in shares of CMS Energy by 5.5% in the 1st quarter. Kera Capital Partners Inc. now owns 3,934 shares of the utilities provider’s stock valued at $305,000 after buying an additional 206 shares during the period. Finally, CX Institutional lifted its stake in CMS Energy by 6.7% during the 3rd quarter. CX Institutional now owns 4,146 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CMS. HSBC began coverage on shares of CMS Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.00 price target for the company. KeyCorp downgraded CMS Energy from an “overweight” rating to a “sector weight” rating in a report on Thursday, July 23rd. Barclays dropped their price objective on CMS Energy from $81.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Mizuho lowered their price objective on shares of CMS Energy from $78.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Morgan Stanley dropped their target price on CMS Energy from $77.00 to $73.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.35.

CMS Energy Stock Performance

Shares of CMS opened at $70.68 on Friday. CMS Energy Corporation has a 12-month low of $62.28 and a 12-month high of $80.36. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 1.88. The company has a 50-day moving average of $66.92 and a two-hundred day moving average of $72.52. The stock has a market cap of $22.17 billion, a P/E ratio of 25.24, a PEG ratio of 2.59 and a beta of 0.31.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.09. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.23 billion. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. CMS Energy’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. As a group, research analysts predict that CMS Energy Corporation will post 3.87 EPS for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, November 6th. This represents a $2.28 annualized dividend and a yield of 3.2%. CMS Energy’s payout ratio is currently 81.43%.

CMS Energy Company Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.