CMS Energy (NYSE:CMS) Posts Earnings Results, Beats Expectations By $0.05 EPS

CMS Energy (NYSE:CMS) announced its earnings results on Thursday. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. 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 Down 1.9 %

NYSE CMS traded down $1.14 during mid-day trading on Friday, reaching $59.34. 2,386,366 shares of the stock were exchanged, compared to its average volume of 2,522,026. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The business’s fifty day simple moving average is $58.76 and its 200 day simple moving average is $57.42. The stock has a market capitalization of $17.72 billion, a PE ratio of 18.09, a PEG ratio of 2.35 and a beta of 0.38. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.66 and a current ratio of 2.03.

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 given a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a yield of 3.47%. CMS Energy’s dividend payout ratio (DPR) is currently 62.80%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMS. Barclays reduced their target price on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. KeyCorp increased their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Guggenheim raised shares of CMS Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. Seaport Res Ptn cut shares of CMS Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.

Insider Buying and Selling

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’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 transaction of $202,230.00. Following the sale, the senior vice president now owns 68,971 shares in the company, valued at $3,985,144.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is 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.