Contravisory Investment Management Inc. Makes New Investment in CMS Energy Co. (NYSE:CMS)

Contravisory Investment Management Inc. purchased a new stake in shares of CMS Energy Co. (NYSE:CMS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 122,258 shares of the utilities provider’s stock, valued at approximately $8,148,000. CMS Energy makes up approximately 1.7% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors also recently modified their holdings of CMS. Raymond James & Associates boosted its holdings in shares of CMS Energy by 310.2% during the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock valued at $79,519,000 after acquiring an additional 851,364 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in CMS Energy by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after purchasing an additional 719,093 shares during the period. National Bank of Canada FI boosted its holdings in CMS Energy by 404.8% in the third quarter. National Bank of Canada FI now owns 892,734 shares of the utilities provider’s stock worth $63,053,000 after purchasing an additional 715,891 shares during the last quarter. Assenagon Asset Management S.A. grew its position in CMS Energy by 760.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 700,135 shares of the utilities provider’s stock worth $46,664,000 after purchasing an additional 618,767 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in CMS Energy by 552.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 566,025 shares of the utilities provider’s stock valued at $39,978,000 after buying an additional 479,336 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMS has been the topic of a number of research reports. Morgan Stanley dropped their price target on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. StockNews.com upgraded CMS Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays raised their target price 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. Finally, Jefferies Financial Group began coverage on CMS Energy in a research report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CMS Energy has an average rating of “Moderate Buy” and an average price target of $70.36.

CMS Energy Price Performance

CMS Energy stock opened at $66.56 on Thursday. The stock has a market cap of $19.89 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42. The firm has a 50-day moving average of $67.41 and a two-hundred day moving average of $67.09. CMS Energy Co. has a 1 year low of $55.10 and a 1 year high of $72.40. 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 (NYSE:CMS) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. CMS Energy’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, research 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. Stockholders of record on Wednesday, November 13th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio is presently 58.86%.

Insider Activity at CMS Energy

In other CMS Energy news, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 24,417 shares in the company, valued at approximately $1,672,564.50. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy 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 completion of the transaction, the senior vice president now directly 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. Insiders have sold a total of 33,686 shares of company stock valued at $2,228,084 over the last ninety days. 0.40% of the stock is owned by company insiders.

CMS Energy 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.