Q2 2024 EPS Estimates for CMS Energy Co. Raised by Zacks Research (NYSE:CMS)

CMS Energy Co. (NYSE:CMS) – Analysts at Zacks Research upped their Q2 2024 earnings estimates for CMS Energy in a report issued on Thursday, May 16th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.50. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share. Zacks Research also issued estimates for CMS Energy’s Q3 2024 earnings at $0.72 EPS, Q4 2024 earnings at $1.03 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $3.60 EPS.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business posted $0.70 EPS. CMS Energy’s quarterly revenue was down 4.7% compared to the same quarter last year.

Several other brokerages have also weighed in on CMS. Scotiabank decreased their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Guggenheim upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $64.00 in a research note on Friday, February 2nd. UBS Group lowered shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Thursday, April 4th. Finally, KeyCorp increased their target price on CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CMS Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.75.

CMS Energy Stock Performance

NYSE:CMS opened at $63.15 on Friday. CMS Energy has a 1 year low of $49.87 and a 1 year high of $63.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.35 and a quick ratio of 1.05. The business has a fifty day simple moving average of $59.89 and a two-hundred day simple moving average of $58.22. The company has a market capitalization of $18.82 billion, a P/E ratio of 19.25, a P/E/G ratio of 2.57 and a beta of 0.37.

Hedge Funds Weigh In On CMS Energy

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in CMS Energy by 14.0% during 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. Capital International Investors grew its holdings in shares of CMS Energy by 24.8% during the 4th quarter. Capital International Investors now owns 6,208,876 shares of the utilities provider’s stock valued at $360,537,000 after purchasing an additional 1,234,791 shares during the last quarter. Capital Research Global Investors raised its position in CMS Energy by 1.2% in the 4th quarter. Capital Research Global Investors now owns 5,593,539 shares of the utilities provider’s stock worth $324,817,000 after purchasing an additional 65,966 shares during the period. Invesco Ltd. lifted its stake in CMS Energy by 7.3% in the third quarter. Invesco Ltd. now owns 4,663,108 shares of the utilities provider’s stock worth $247,658,000 after purchasing an additional 317,682 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in CMS Energy by 320.9% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,305,602 shares of the utilities provider’s stock valued at $250,026,000 after buying an additional 3,282,697 shares during the period. 93.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian F. Rich sold 2,000 shares of CMS Energy stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the sale, the senior vice president now directly owns 97,682 shares of the company’s stock, valued at $5,968,370.20. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.26%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s payout ratio is 62.80%.

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.