CMS Energy Corporation $CMS Position Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC grew its position in CMS Energy Corporation (NYSE:CMS) by 331.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 185,018 shares of the utilities provider’s stock after acquiring an additional 142,090 shares during the period. New York Life Investment Management LLC owned 0.06% of CMS Energy worth $11,671,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CMS. GQG Partners LLC acquired a new position in CMS Energy in the 2nd quarter worth about $363,388,000. Pictet Asset Management Holding SA raised its position in CMS Energy by 5.2% in the third quarter. Pictet Asset Management Holding SA now owns 4,490,347 shares of the utilities provider’s stock valued at $283,251,000 after purchasing an additional 221,813 shares during the last quarter. Magellan Asset Management Ltd acquired a new stake in shares of CMS Energy during the second quarter valued at about $194,237,000. Legal & General Group Plc acquired a new stake in shares of CMS Energy during the second quarter valued at about $189,370,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CMS Energy by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,581,115 shares of the utilities provider’s stock valued at $122,657,000 after purchasing an additional 50,475 shares in the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

CMS Energy Stock Down 0.3%

Shares of CMS opened at $69.57 on Thursday. The stock’s 50-day moving average price is $67.03 and its two-hundred day moving average price is $72.48. CMS Energy Corporation has a 12 month low of $62.28 and a 12 month high of $80.36. The company has a market capitalization of $21.82 billion, a PE ratio of 17.94, a PEG ratio of 2.55 and a beta of 0.31. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 1.88.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.09. CMS Energy had a return on equity of 12.28% and a net margin of 9.72%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that CMS Energy Corporation will post 3.87 EPS for the current year.

CMS Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be issued a $0.57 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.28 annualized dividend and a yield of 3.3%. CMS Energy’s dividend payout ratio is presently 81.43%.

Analyst Ratings Changes

Several research firms have recently weighed in on CMS. Scotiabank restated a “sector outperform” rating and set a $78.00 price target on shares of CMS Energy in a report on Thursday, October 1st. BMO Capital Markets raised their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Wells Fargo & Company cut their target price on shares of CMS Energy from $79.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. HSBC initiated coverage on shares of CMS Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $69.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of CMS Energy from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, CMS Energy presently has an average rating of “Hold” and an average target price of $77.35.

About CMS Energy

CMS Energy is a Michigan-based energy company and the parent of Consumers Energy, a regulated utility that provides electricity and natural gas to homes and businesses across Michigan’s Lower Peninsula. Consumers Energy serves customers in all 68 counties in the peninsula. Through Consumers Energy, the company generates, purchases, transmits and distributes electricity, and supplies natural gas. Its operations include maintaining utility infrastructure and developing energy resources, including renewable generation, to support the region’s energy needs.