CMS Energy (NYSE:CMS) Issues Quarterly Earnings Results

CMS Energy (NYSE:CMS) posted its earnings results on Thursday. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03, Briefing.com reports. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $0.75 earnings per share. CMS Energy’s quarterly revenue was up 3.3% on a year-over-year basis. CMS Energy updated its FY 2024 guidance to 3.290-3.350 EPS and its FY24 guidance to $3.29-$3.35 EPS.

CMS Energy Trading Down 0.4 %

NYSE CMS traded down $0.25 on Friday, hitting $62.96. 1,609,165 shares of the stock were exchanged, compared to its average volume of 1,826,400. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.05 and a current ratio of 1.70. CMS Energy has a 52-week low of $49.87 and a 52-week high of $64.28. The firm has a market capitalization of $18.80 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.51 and a beta of 0.38. The stock has a fifty day moving average price of $60.66 and a two-hundred day moving average price of $59.44.

CMS Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.24%. CMS Energy’s payout ratio is presently 62.80%.

Analysts Set New Price Targets

CMS has been the topic of several recent research reports. Barclays upped their price target on CMS Energy from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their price objective on CMS Energy from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group downgraded CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Thursday, April 4th. Scotiabank reduced their price target 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. Finally, KeyCorp upped their price target on shares of CMS Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, CMS Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Insider Activity

In related news, SVP Brian F. Rich sold 2,000 shares of CMS Energy stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the transaction, the senior vice president now directly owns 97,682 shares of the company’s stock, valued at approximately $5,968,370.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other CMS Energy news, SVP Brandon J. Hofmeister sold 1,667 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $59.98, for a total value of $99,986.66. Following the transaction, the senior vice president now owns 68,330 shares of the company’s stock, valued at approximately $4,098,433.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian F. Rich sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the transaction, the senior vice president now owns 97,682 shares in the company, valued at $5,968,370.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,027 shares of company stock valued at $365,651. 0.40% of the stock is currently owned by company 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.