Mirae Asset Global Investments Co. Ltd. Sells 701 Shares of CMS Energy Co. (NYSE:CMS)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of CMS Energy Co. (NYSE:CMS) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 47,666 shares of the utilities provider’s stock after selling 701 shares during the period. 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMS. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of CMS Energy during the 1st quarter worth about $188,418,000. Morgan Stanley lifted its holdings in CMS Energy by 75.0% during the 4th quarter. Morgan Stanley now owns 4,457,642 shares of the utilities provider’s stock valued at $282,303,000 after purchasing an additional 1,910,519 shares during the last quarter. Norges Bank bought a new position in CMS Energy during the 4th quarter valued at about $115,134,000. American Century Companies Inc. lifted its holdings in CMS Energy by 6,027.8% during the 3rd quarter. American Century Companies Inc. now owns 1,740,776 shares of the utilities provider’s stock valued at $92,453,000 after purchasing an additional 1,712,368 shares during the last quarter. Finally, State Street Corp lifted its holdings in CMS Energy by 11.0% during the 1st quarter. State Street Corp now owns 16,331,901 shares of the utilities provider’s stock valued at $1,142,253,000 after purchasing an additional 1,613,255 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’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 value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

CMS Energy Trading Up 0.4 %

CMS opened at $58.48 on Friday. 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 company has a market cap of $17.46 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.38. The firm has a 50 day simple moving average of $58.37 and a 200 day simple moving average of $57.10. CMS Energy Co. has a fifty-two week low of $49.87 and a fifty-two week high of $63.76.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. CMS Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that CMS Energy Co. will post 3.33 earnings per share for the current year.

CMS Energy Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $60.00 to $64.00 in a report on Friday, February 2nd. Royal Bank of Canada cut their price target on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Seaport Res Ptn downgraded shares of CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Finally, Wolfe Research raised shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 target price for the company in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.64.

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.