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

CMS Energy (NYSE:CMS) announced its quarterly earnings data on Thursday. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05, RTT News reports. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. 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 Price Performance

Shares of NYSE:CMS traded down $0.14 on Thursday, reaching $60.14. The company’s stock had a trading volume of 1,967,194 shares, compared to its average volume of 2,476,594. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The company has a market cap of $17.96 billion, a P/E ratio of 20.03, a PEG ratio of 2.32 and a beta of 0.38. The company has a 50-day simple moving average of $58.65 and a 200 day simple moving average of $57.36. 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 Dividend Announcement

The firm 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 $0.515 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.43%. CMS Energy’s payout ratio is currently 68.44%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CMS shares. Guggenheim upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. Scotiabank decreased their price objective on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research report on Monday. BMO Capital Markets raised their target price on shares of CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Wolfe Research raised shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 target price for the company in a research note on Tuesday, January 16th. Finally, Seaport Res Ptn cut shares of CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CMS Energy currently has a consensus 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 firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total value of $202,230.00. Following the completion of the sale, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.