CMS Energy (NYSE:CMS) Announces Earnings Results

CMS Energy (NYSE:CMS) issued its earnings results on Thursday. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05, RTT News reports. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. 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 Stock Performance

Shares of NYSE:CMS traded up $0.18 during trading on Thursday, reaching $60.46. The company had a trading volume of 2,446,467 shares, compared to its average volume of 2,481,921. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $63.76. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The stock’s fifty day moving average price is $58.65 and its 200 day moving average price is $57.36. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 2.32 and a beta of 0.38.

CMS Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CMS. KeyCorp boosted their price target on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Barclays reduced their target price on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Royal Bank of Canada reduced their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Finally, Scotiabank reduced their price target on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research note on Monday. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by insiders.

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.