Mirae Asset Global Investments Co. Ltd. Acquires New Holdings in CMS Energy Corporation $CMS

Key Points

• Mirae Asset Global Investments acquired 85,064 CMS Energy shares in the third quarter, valued at approximately $5.37 million. Institutional investors collectively own 93.57% of the company’s stock.
• CMS Energy reported quarterly EPS of $1.44, beating the $1.35 consensus estimate, while revenue of $2.18 billion fell short of expectations but rose 8% year over year.
• The company declared a quarterly dividend of $0.57 per share, equivalent to an annualized yield of 3.2%. Analysts’ consensus rating is Hold, with an average price target of $77.35.

Mirae Asset Global Investments Co. Ltd. acquired a new position in CMS Energy Corporation (NYSE:CMS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 85,064 shares of the utilities provider's stock, valued at approximately $5,366,000.

A number of other hedge funds also recently bought and sold shares of the stock. Kilter Group LLC bought a new stake in CMS Energy during the 2nd quarter valued at $26,000. Independence Bank of Kentucky purchased a new position in shares of CMS Energy in the 3rd quarter valued at $27,000. Pension & Wealth Management Advisors Inc. purchased a new position in shares of CMS Energy in the 3rd quarter valued at $30,000. Scarborough Advisors LLC bought a new position in shares of CMS Energy in the 1st quarter worth $31,000. Finally, Trust Co. of Vermont bought a new position in shares of CMS Energy in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 93.57% of the company's stock.

CMS Energy Stock Down 0.4%

NYSE:CMS opened at $70.68 on Friday. The company's fifty day moving average price is $66.92 and its 200-day moving average price is $72.52. The firm has a market capitalization of $22.17 billion, a P/E ratio of 25.24, a PEG ratio of 2.59 and a beta of 0.31. CMS Energy Corporation has a 1-year low of $62.28 and a 1-year high of $80.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.95 and a quick ratio of 0.67.

CMS Energy (NYSE:CMS - Get Free Report) last posted its earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.09. CMS Energy had a net margin of 9.72% and a return on equity of 12.28%. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the previous year, the business posted $0.93 EPS. The business's revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.28 dividend on an annualized basis and a yield of 3.2%. CMS Energy's payout ratio is presently 81.43%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMS. Scotiabank restated a "sector outperform" rating and set a $78.00 price objective on shares of CMS Energy in a research note on Thursday, October 1st. Barclays cut their target price on CMS Energy from $81.00 to $72.00 and set an "overweight" rating on the stock in a research note on Friday, October 16th. BMO Capital Markets lifted their target price on CMS Energy from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Monday, October 19th. Royal Bank Of Canada set a $73.00 target price on shares of CMS Energy in a report on Tuesday, October 6th. Finally, Truist Financial lowered their price target on shares of CMS Energy from $81.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $77.35.

About CMS Energy

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.

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