Mirae Asset Global Investments Co. Ltd. Decreases Stake in CMS Energy Co. (NYSE:CMS)

Mirae Asset Global Investments Co. Ltd. lessened its stake in CMS Energy Co. (NYSE:CMS) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,666 shares of the utilities provider’s stock after selling 701 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CMS Energy were worth $2,768,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of CMS Energy by 68.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,072 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 26,034 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of CMS Energy by 49.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 302,221 shares of the utilities provider’s stock valued at $16,051,000 after purchasing an additional 100,618 shares in the last quarter. New England Asset Management Inc. raised its stake in CMS Energy by 38.8% during the third quarter. New England Asset Management Inc. now owns 132,950 shares of the utilities provider’s stock worth $7,061,000 after acquiring an additional 37,147 shares during the period. International Assets Investment Management LLC acquired a new stake in CMS Energy during the fourth quarter worth about $4,390,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in CMS Energy during the third quarter worth about $4,209,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Trading Up 0.4 %

CMS Energy stock opened at $58.48 on Friday. The firm has a 50 day simple moving average of $58.37 and a 200-day simple moving average of $57.10. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The stock has a market capitalization of $17.46 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.38. CMS Energy Co. has a 12-month low of $49.87 and a 12-month high of $63.76.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The business’s revenue was down 14.4% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. As a group, equities research analysts expect that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.52%. This is a boost from CMS Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, February 9th. CMS Energy’s dividend payout ratio (DPR) is presently 68.44%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CMS. Guggenheim upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $64.00 in a research note on Friday, February 2nd. Barclays dropped their price objective on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday. Wolfe Research upgraded shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Tuesday, January 16th. KeyCorp increased their price objective on shares of CMS Energy from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Finally, UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.64.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the sale, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by 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.