Cigna Investments Inc. New Takes $218,000 Position in CMS Energy Co. (NYSE:CMS)

Cigna Investments Inc. New bought a new stake in shares of CMS Energy Co. (NYSE:CMS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,084 shares of the utilities provider’s stock, valued at approximately $218,000.

Other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC boosted its stake 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 period. Headlands Technologies LLC purchased a new stake in CMS Energy in the first quarter worth about $43,000. Innealta Capital LLC purchased a new stake in CMS Energy in the second quarter worth about $43,000. Values First Advisors Inc. purchased a new stake in CMS Energy in the third quarter worth about $56,000. Finally, Voisard Asset Management Group Inc. lifted its stake in CMS Energy by 25.7% in the third quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 163 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CMS shares. KeyCorp upped their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Barclays upped their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley boosted their target price on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.85.

CMS Energy Stock Performance

CMS opened at $68.30 on Friday. CMS Energy Co. has a 52-week low of $54.13 and a 52-week high of $72.40. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The company has a market cap of $20.40 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41. The firm’s 50-day moving average price is $69.80 and its 200-day moving average price is $64.62.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.515 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is currently 63.19%.

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.