Analysts Set Expectations for CMS Energy Co.’s FY2024 Earnings (NYSE:CMS)

CMS Energy Co. (NYSE:CMS) – Stock analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of CMS Energy in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $3.31 for the year, down from their prior estimate of $3.34. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share.

CMS Energy (NYSE:CMS) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm 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%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased 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. UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Thursday, April 4th. KeyCorp raised their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Guggenheim upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. Finally, Royal Bank of Canada decreased their target price on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

CMS Energy Stock Up 0.3 %

CMS Energy stock opened at $60.48 on Friday. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The stock’s fifty day simple moving average is $58.72 and its 200-day simple moving average is $57.38. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $18.06 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.34 and a beta of 0.38.

CMS Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 annualized dividend and a dividend yield of 3.41%. CMS Energy’s dividend 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 the business’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 of the company’s stock, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CMS. CI Investments Inc. increased its holdings in CMS Energy by 3.0% during the third quarter. CI Investments Inc. now owns 6,415 shares of the utilities provider’s stock worth $341,000 after buying an additional 185 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in CMS Energy by 30.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 185 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in shares of CMS Energy by 2.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 8,187 shares of the utilities provider’s stock valued at $435,000 after buying an additional 192 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in CMS Energy by 0.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider’s stock worth $1,228,000 after purchasing an additional 192 shares in the last quarter. Finally, Centerpoint Advisors LLC boosted its stake in CMS Energy by 25.0% in the 3rd quarter. Centerpoint Advisors LLC now owns 1,000 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. 93.57% of the stock is owned by institutional investors.

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.