CMS Energy (NYSE:CMS) Announces Quarterly Earnings Results

CMS Energy (NYSE:CMS) issued its quarterly earnings data on Thursday. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was down 4.7% 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 to $3.35 EPS.

CMS Energy Trading Up 0.3 %

Shares of CMS opened at $60.49 on Friday. The firm has a market cap of $18.06 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38. 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 quick ratio of 0.66 and a current ratio of 0.98. The business has a 50-day moving average of $58.72 and a 200 day moving average of $57.38.

CMS Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. 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 payout ratio is 68.44%.

Wall Street Analysts Forecast Growth

CMS has been the topic of several analyst reports. UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. Seaport Res Ptn cut shares of CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Barclays dropped 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 report on Monday, April 15th. BMO Capital Markets increased their price target on CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, Scotiabank cut their price objective on CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average target price of $63.00.

Insiders Place Their Bets

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

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.