Investment Management Corp of Ontario Purchases 3,200 Shares of CMS Energy Co. (NYSE:CMS)

Investment Management Corp of Ontario boosted its position in CMS Energy Co. (NYSE:CMS) by 47.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,992 shares of the utilities provider’s stock after purchasing an additional 3,200 shares during the quarter. Investment Management Corp of Ontario’s holdings in CMS Energy were worth $706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of CMS Energy by 171.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 275 shares in the last quarter. Brooklyn Investment Group purchased a new stake in CMS Energy in the third quarter worth about $40,000. Covestor Ltd increased 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 purchasing an additional 472 shares in the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of CMS Energy by 431.3% during the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 578 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of CMS Energy in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CMS shares. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Barclays lifted their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America increased their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. KeyCorp raised their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Scotiabank upped their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.21.

Insider Transactions at CMS Energy

In related news, CAO Scott B. Mcintosh sold 936 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $68.50, for a total value of $64,116.00. Following the completion of the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now owns 64,771 shares in the company, valued at approximately $4,415,439.07. The trade was a 3.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Stock Performance

CMS stock opened at $67.18 on Friday. The company has a market cap of $20.07 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.72 and a beta of 0.41. 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 stock’s fifty day moving average price is $69.57 and its 200-day moving average price is $65.87.

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

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.515 dividend. The ex-dividend date was Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.07%. CMS Energy’s dividend payout ratio (DPR) is presently 58.86%.

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.