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

CMS Energy Co. (NYSE:CMS) – Equities researchers at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for CMS Energy in a note issued to investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $3.31 per share for the year, down from their previous 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 earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. CMS Energy’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share.

Several other brokerages also recently commented on CMS. BMO Capital Markets boosted their price objective on CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Barclays lowered their price objective 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. Scotiabank lowered 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. Royal Bank of Canada lowered their price objective on CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Finally, Guggenheim upgraded CMS Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.00.

CMS Energy Price Performance

NYSE CMS opened at $60.48 on Friday. The business’s fifty day moving average is $58.72 and its 200 day moving average is $57.38. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $63.76. The company has a market capitalization of $18.06 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98.

Institutional Investors Weigh In On CMS Energy

Several large investors have recently added to or reduced their stakes in CMS. Scarborough Advisors LLC bought a new position in shares of CMS Energy during the fourth quarter valued at approximately $29,000. Headinvest LLC bought a new position in shares of CMS Energy during the third quarter valued at approximately $26,000. Voisard Asset Management Group Inc. bought a new position in shares of CMS Energy during the fourth quarter valued at approximately $36,000. Compagnie Lombard Odier SCmA bought a new position in shares of CMS Energy during the third quarter valued at approximately $36,000. Finally, Tobam grew its stake in shares of CMS Energy by 2,432.3% during the fourth quarter. Tobam now owns 785 shares of the utilities provider’s stock valued at $46,000 after buying an additional 754 shares during the last quarter. 93.57% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the sale, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by insiders.

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. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 annualized dividend and a yield of 3.41%. CMS Energy’s payout ratio is currently 68.44%.

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.