CMS Energy (NYSE:CMS) Releases Earnings Results

CMS Energy (NYSE:CMS) announced its earnings results on Thursday. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. CMS Energy’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 earnings per share. CMS Energy updated its FY 2024 guidance to 3.290-3.350 EPS and its FY24 guidance to $3.29 to $3.35 EPS.

CMS Energy Trading Up 0.3 %

Shares of NYSE CMS opened at $60.49 on Friday. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.34 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The company’s fifty day moving average is $58.72 and its 200-day moving average is $57.38.

CMS Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s payout ratio is presently 68.44%.

Insider Activity at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Seaport Res Ptn lowered CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Guggenheim upgraded CMS Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $60.00 to $64.00 in a report on Friday, February 2nd. Royal Bank of Canada dropped their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Barclays reduced their target price on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Finally, Wolfe Research raised shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.