CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

CMS Energy (NYSE:CMS) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.29 to $3.35 for the period, compared to the consensus earnings per share estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMS shares. BMO Capital Markets boosted their price objective on CMS Energy from $67.00 to $68.00 and gave the stock an outperform rating in a research note on Friday. KeyCorp increased their price objective 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. Wolfe Research raised shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price target for the company in a report on Tuesday, January 16th. JPMorgan Chase & Co. upped their price objective on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. Finally, Scotiabank decreased 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 research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $63.33.

CMS Energy Trading Down 1.9 %

NYSE:CMS traded down $1.13 during mid-day trading on Friday, hitting $59.35. The company had a trading volume of 2,386,366 shares, compared to its average volume of 2,514,217. The firm has a market cap of $17.72 billion, a P/E ratio of 19.72, a P/E/G 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 business’s fifty day moving average is $58.76 and its two-hundred day moving average is $57.42. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. CMS Energy’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. As a group, research analysts expect that CMS Energy will post 3.33 earnings per share for the current year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued 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 3.47%. CMS Energy’s dividend payout ratio is presently 68.44%.

Insider Activity at CMS Energy

In other CMS Energy 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 directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by insiders.

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.