Mirae Asset Global Investments Co. Ltd. Increases Stock Position in CMS Energy Co. (NYSE:CMS)

Mirae Asset Global Investments Co. Ltd. boosted its stake in CMS Energy Co. (NYSE:CMS) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,752 shares of the utilities provider’s stock after acquiring an additional 8,484 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CMS Energy were worth $3,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMS. Massachusetts Financial Services Co. MA increased its stake in CMS Energy by 101.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after purchasing an additional 3,473,977 shares during the period. JPMorgan Chase & Co. increased its stake in CMS Energy by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares during the period. Raymond James & Associates increased its stake in CMS Energy by 310.2% in the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock valued at $79,519,000 after purchasing an additional 851,364 shares during the period. iA Global Asset Management Inc. increased its stake in CMS Energy by 105.9% in the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after purchasing an additional 800,344 shares during the period. Finally, Railway Pension Investments Ltd acquired a new position in CMS Energy in the second quarter valued at $47,082,000. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMS has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. KeyCorp boosted their price target on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $76.00 to $72.00 in a research note on Tuesday, October 15th. Finally, Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Stock Down 2.3 %

Shares of NYSE CMS opened at $69.54 on Wednesday. CMS Energy Co. has a 12-month low of $53.53 and a 12-month high of $72.40. The company has a market capitalization of $20.77 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.77 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 0.87. The firm’s 50-day moving average is $69.67 and its two-hundred day moving average is $64.47.

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is 62.80%.

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.