Cigna Investments Inc. New Buys New Holdings in CMS Energy Co. (NYSE:CMS)

Cigna Investments Inc. New bought a new stake in CMS Energy Co. (NYSE:CMS) during the third quarter, HoldingsChannel reports. The fund bought 3,084 shares of the utilities provider’s stock, valued at approximately $218,000.

Several other hedge funds have also bought and sold shares of CMS. Massachusetts Financial Services Co. MA boosted its position in CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after purchasing an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. boosted its position in CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock worth $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Raymond James & Associates boosted its position in CMS Energy by 310.2% in the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after purchasing an additional 851,364 shares in the last quarter. iA Global Asset Management Inc. boosted its position in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares in the last quarter. Finally, Railway Pension Investments Ltd purchased a new stake in CMS Energy in the 2nd quarter worth approximately $47,082,000. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BMO Capital Markets lowered their price objective on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $76.00 to $72.00 in a research report on Tuesday, October 15th. Wells Fargo & Company increased their target price on CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their target price on CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays increased their target price on CMS Energy from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Stock Down 1.9 %

NYSE CMS opened at $68.30 on Friday. The business has a fifty day moving average price of $69.80 and a 200 day moving average price of $64.62. CMS Energy Co. has a one year low of $54.13 and a one year high of $72.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The company has a market cap of $20.40 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.79 and a beta of 0.41.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.02%. CMS Energy’s dividend payout ratio (DPR) is 63.19%.

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.