CIBC Asset Management Inc Boosts Stock Position in CMS Energy Co. (NYSE:CMS)

CIBC Asset Management Inc grew its holdings in CMS Energy Co. (NYSE:CMS) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,178 shares of the utilities provider’s stock after buying an additional 1,055 shares during the quarter. CIBC Asset Management Inc’s holdings in CMS Energy were worth $9,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of CMS Energy by 48,203.8% during the first quarter. Lazard Asset Management LLC now owns 50,719 shares of the utilities provider’s stock worth $3,059,000 after purchasing an additional 50,614 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in CMS Energy by 79.9% during the second quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock worth $43,569,000 after buying an additional 325,101 shares during the last quarter. Bayesian Capital Management LP boosted its stake in CMS Energy by 402.6% during the first quarter. Bayesian Capital Management LP now owns 19,600 shares of the utilities provider’s stock worth $1,183,000 after buying an additional 15,700 shares during the last quarter. Cetera Investment Advisers boosted its stake in CMS Energy by 325.4% during the first quarter. Cetera Investment Advisers now owns 26,219 shares of the utilities provider’s stock worth $1,582,000 after buying an additional 20,056 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in CMS Energy by 46.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,332,892 shares of the utilities provider’s stock worth $79,275,000 after buying an additional 421,059 shares during the last quarter. 93.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMS shares. Bank of America boosted their price objective on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank increased their price target on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets reduced their price target on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Morgan Stanley raised their target price on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, KeyCorp raised their target price on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.29.

CMS Energy Stock Up 1.2 %

CMS Energy stock opened at $68.23 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.23 and a quick ratio of 0.83. CMS Energy Co. has a 1-year low of $55.10 and a 1-year high of $72.40. The company has a market cap of $20.39 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.41. The stock’s 50 day moving average price is $69.78 and its 200 day moving average price is $65.21.

CMS Energy (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. On average, sell-side analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.515 per share. The ex-dividend date is Wednesday, November 13th. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.02%. CMS Energy’s payout ratio is currently 58.86%.

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.