Mirae Asset Global Investments Co. Ltd. Reduces Holdings in CMS Energy Co. (NYSE:CMS)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in CMS Energy Co. (NYSE:CMS) by 32.3% during the 4th quarter, Holdings Channel reports. The firm owned 36,379 shares of the utilities provider’s stock after selling 17,373 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CMS Energy were worth $2,234,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Richardson Financial Services Inc. lifted its stake in CMS Energy by 106.8% in the 4th quarter. Richardson Financial Services Inc. now owns 455 shares of the utilities provider’s stock valued at $30,000 after buying an additional 235 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 275 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of CMS Energy during the third quarter valued at $40,000. Covestor Ltd boosted its stake in shares of CMS Energy by 206.1% during the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in CMS Energy during the 3rd quarter worth about $56,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the sale, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at approximately $4,415,439.07. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott B. Mcintosh sold 936 shares of CMS Energy stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the sale, the chief accounting officer now directly owns 24,417 shares in the company, valued at $1,672,564.50. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,686 shares of company stock valued at $2,228,084 over the last quarter. Company insiders own 0.40% of the company’s stock.

CMS Energy Stock Up 0.5 %

Shares of NYSE:CMS opened at $68.69 on Monday. The stock has a 50-day simple moving average of $66.77 and a 200-day simple moving average of $67.89. The stock has a market capitalization of $20.52 billion, a P/E ratio of 20.69, a PEG ratio of 2.48 and a beta of 0.42. CMS Energy Co. has a 1 year low of $55.10 and a 1 year high of $72.40. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.83 and a current ratio of 1.23.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. CMS Energy had a net margin of 13.35% and a return on equity of 12.02%. Equities analysts forecast that CMS Energy Co. will post 3.59 earnings per share for the current year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be issued a $0.5425 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, February 14th. CMS Energy’s dividend payout ratio is currently 65.36%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMS shares. Barclays upped their target price on shares of CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Guggenheim restated a “neutral” rating and set a $69.00 target price on shares of CMS Energy in a research report on Friday. Jefferies Financial Group initiated coverage on CMS Energy in a report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target for the company. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley dropped their target price on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, CMS Energy presently has a consensus rating of “Moderate Buy” and an average price target of $71.15.

CMS Energy Company Profile

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.