CMS Energy Corporation (NYSE:CMS) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its ownership of CMS Energy by 11.5%, now holding 533,353 shares worth approximately $40 million.
• Recently, several analysts raised their price targets for CMS Energy, with BMO Capital Markets increasing its target from $77 to $79 and Scotiabank from $77 to $81, reflecting a positive outlook for the company.
• CMS Energy declared a quarterly dividend of $0.5425 per share, set to be paid on August 29, representing an annualized yield of 3.0% based on its payout ratio of 64.20%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in CMS Energy Corporation (NYSE:CMS - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 533,353 shares of the utilities provider's stock after purchasing an additional 54,909 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of CMS Energy worth $40,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its holdings in CMS Energy by 39.2% during the fourth quarter. Optiver Holding B.V. now owns 813 shares of the utilities provider's stock worth $54,000 after acquiring an additional 229 shares during the period. Bernard Wealth Management Corp. acquired a new stake in shares of CMS Energy during the 1st quarter worth approximately $72,000. NBC Securities Inc. acquired a new stake in shares of CMS Energy during the 1st quarter worth approximately $75,000. Covestor Ltd increased its holdings in shares of CMS Energy by 51.9% during the 4th quarter. Covestor Ltd now owns 1,065 shares of the utilities provider's stock valued at $71,000 after purchasing an additional 364 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of CMS Energy by 167.3% in the 1st quarter. Grove Bank & Trust now owns 1,072 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 671 shares during the period. 93.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of CMS Energy from $77.00 to $79.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley set a $71.00 target price on CMS Energy and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Scotiabank restated an "outperform" rating and issued a $81.00 price target (up previously from $77.00) on shares of CMS Energy in a research note on Friday, April 25th. Evercore ISI increased their price target on CMS Energy from $73.00 to $76.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Finally, Wolfe Research reissued a "peer perform" rating on shares of CMS Energy in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CMS Energy currently has an average rating of "Hold" and an average target price of $77.25.

CMS Energy Price Performance

Shares of CMS Energy stock opened at $73.52 on Friday. The stock has a market capitalization of $22.01 billion, a P/E ratio of 21.75, a PEG ratio of 2.73 and a beta of 0.36. The business has a 50 day simple moving average of $70.93 and a two-hundred day simple moving average of $71.19. CMS Energy Corporation has a 12 month low of $63.97 and a 12 month high of $76.45. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.00 and a quick ratio of 0.77.

CMS Energy (NYSE:CMS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.68 billion. CMS Energy had a return on equity of 12.07% and a net margin of 12.76%. The firm's revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. As a group, analysts predict that CMS Energy Corporation will post 3.59 EPS for the current fiscal year.

CMS Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be given a dividend of $0.5425 per share. The ex-dividend date is Friday, August 8th. This represents a $2.17 dividend on an annualized basis and a yield of 3.0%. CMS Energy's payout ratio is presently 64.20%.

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.

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