Intact Investment Management Inc. Makes New $5.15 Million Investment in CMS Energy Co. (NYSE:CMS)

Intact Investment Management Inc. bought a new position in shares of CMS Energy Co. (NYSE:CMS) during the third quarter, Holdings Channel.com reports. The firm bought 72,960 shares of the utilities provider’s stock, valued at approximately $5,153,000.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in CMS Energy by 101.7% during 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 buying an additional 3,473,977 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in CMS Energy by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after acquiring an additional 2,786,071 shares during the last quarter. Raymond James & Associates increased its position in CMS Energy by 310.2% in the third 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 during the period. iA Global Asset Management Inc. raised its holdings in CMS Energy by 105.9% during 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 during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in CMS Energy during the 2nd quarter valued at about $47,082,000. 93.57% of the stock is owned by institutional investors.

CMS Energy Trading Up 0.1 %

Shares of NYSE:CMS opened at $68.39 on Tuesday. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.77 and a beta of 0.41. CMS Energy Co. has a 12 month low of $54.27 and a 12 month high of $72.40. The company’s fifty day simple moving average is $69.81 and its 200 day simple moving average is $64.79. The company has a quick ratio of 0.87, a current ratio of 1.61 and a debt-to-equity ratio of 1.92.

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

CMS Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.515 per share. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s dividend payout ratio (DPR) is currently 58.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMS. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research note on Friday, July 26th. Bank of America increased their price target on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their price objective on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets cut their target price on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Guggenheim boosted their target price on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy currently has an average rating of “Moderate Buy” and an average target price of $69.85.

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.