CMS Energy (NYSE:CMS) Posts Earnings Results, Beats Estimates By $0.09 EPS

CMS Energy (NYSE:CMS) posted its quarterly earnings results on Tuesday. The utilities provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09, FiscalAI reports. CMS Energy had a net margin of 11.64% and a return on equity of 10.76%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.23 billion.

CMS Energy Stock Performance

Shares of CMS stock opened at $69.67 on Tuesday. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.54 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average price is $66.93 and its 200-day moving average price is $72.54. CMS Energy has a 12 month low of $62.28 and a 12 month high of $80.36.

CMS Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy’s dividend payout ratio (DPR) is presently 68.47%.

Analyst Upgrades and Downgrades

CMS has been the subject of a number of research analyst reports. Capital One Financial set a $73.00 price objective on shares of CMS Energy in a research report on Tuesday, October 6th. Scotiabank reissued a “sector outperform” rating and issued a $78.00 price objective on shares of CMS Energy in a research note on Thursday, October 1st. Morgan Stanley cut their target price on shares of CMS Energy from $77.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 21st. Jefferies Financial Group decreased their target price on shares of CMS Energy from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Tuesday, September 15th. Finally, UBS Group reaffirmed a “neutral” rating and set a $84.00 target price on shares of CMS Energy in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.76.

CMS Energy Company Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.