CMS Energy (NYSE:CMS) Posts Quarterly Earnings Results

CMS Energy (NYSE:CMS) issued its earnings results on Tuesday. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02, FiscalAI reports. CMS Energy had a return on equity of 12.09% and a net margin of 12.54%.The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the business earned $1.02 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. CMS Energy updated its FY 2026 guidance to 3.830-3.90 EPS.

Here are the key takeaways from CMS Energy’s conference call:

• Regulatory outcomes were constructive — the MPSC approved over 65% of CMS Energy’s electric ask and maintained a 9.9% ROE, and MPSC staff recommended >75% of the gas request and ~95% of gas infrastructure, supporting recovery for customer-facing investments.
• Significant growth pipeline and IRP plans — the upcoming IRP includes 1.5 GW of new gas capacity and 13 GW of renewables, the company cites a ~9 GW pipeline with 110 MW signed YTD and notes each 1 GW of new large load could imply $2B–$5B of incremental capex while lowering average customer rates.
• Financial guidance reaffirmed — Q1 adjusted EPS was $1.13, and management reaffirmed full-year guidance of $3.83–$3.90 with continued confidence in the high end of its 6%–8% adjusted EPS growth target.
• Credit and financing risks — Moody’s placed the utility on a negative outlook over the size/timing of the five‑year capital plan; management is evaluating countermeasures while having executed ~$495M of equity forwards (≈$142M settled) and planning ~$700M of equity issuance for 2026.
• Near-term operational headwinds — a sizable March ice storm trimmed Q1 results (~$0.05/share negative) and company assumptions include a ~$0.23/share weather headwind for the remaining nine months, partly offset by rate relief and NorthStar outperformance.

CMS Energy Stock Down 1.5%

Shares of CMS stock opened at $74.80 on Thursday. The stock’s 50-day simple moving average is $77.11 and its 200-day simple moving average is $74.05. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.76 and a current ratio of 0.98. The firm has a market capitalization of $23.04 billion, a PE ratio of 21.19, a P/E/G ratio of 2.75 and a beta of 0.43. CMS Energy has a fifty-two week low of $67.71 and a fifty-two week high of $80.36.

CMS Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 8th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.0%. CMS Energy’s dividend payout ratio is currently 64.59%.

Insider Transactions at CMS Energy

In other news, Director Diane Leopold acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average cost of $76.70 per share, with a total value of $153,400.00. Following the completion of the acquisition, the director owned 2,769 shares of the company’s stock, valued at approximately $212,382.30. This trade represents a 260.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Scott B. Mcintosh sold 1,750 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $78.20, for a total value of $136,850.00. Following the completion of the transaction, the chief accounting officer directly owned 24,223 shares in the company, valued at $1,894,238.60. This represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,664 shares of company stock valued at $1,579,506 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Soroban Capital Partners LP grew its holdings in CMS Energy by 215.8% during the second quarter. Soroban Capital Partners LP now owns 1,435,170 shares of the utilities provider’s stock worth $99,429,000 after acquiring an additional 980,733 shares during the period. Freestone Grove Partners LP acquired a new stake in CMS Energy during the fourth quarter worth about $64,824,000. Millennium Management LLC grew its holdings in CMS Energy by 156.6% during the fourth quarter. Millennium Management LLC now owns 899,709 shares of the utilities provider’s stock worth $62,917,000 after acquiring an additional 549,032 shares during the period. Bank of Nova Scotia boosted its position in CMS Energy by 364.4% during the fourth quarter. Bank of Nova Scotia now owns 613,021 shares of the utilities provider’s stock worth $42,869,000 after purchasing an additional 481,004 shares in the last quarter. Finally, Zimmer Partners LP boosted its position in CMS Energy by 129.8% during the third quarter. Zimmer Partners LP now owns 694,400 shares of the utilities provider’s stock worth $50,872,000 after purchasing an additional 392,262 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMS. JPMorgan Chase & Co. raised their price objective on CMS Energy from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. KeyCorp lifted their target price on CMS Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Truist Financial assumed coverage on CMS Energy in a research note on Tuesday, April 21st. They issued a “buy” rating and a $86.00 target price on the stock. Barclays cut their target price on CMS Energy from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Williams Trading set a $80.00 target price on CMS Energy in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.50.

About CMS Energy

CMS Energy (NYSE: CMS) is an energy company based in Jackson, Michigan, whose principal business is the regulated utility operations of its subsidiary, Consumers Energy. The company is primarily focused on providing electric and natural gas service to customers in Michigan, operating the generation, transmission and distribution infrastructure necessary to deliver energy to residential, commercial and industrial customers. Headquartered in Jackson, CMS Energy conducts its core activities within the state and is regulated by state utility authorities.

Through Consumers Energy and related subsidiaries, CMS Energy develops, owns and operates a portfolio of generation assets and delivers a range of customer-facing services, including electricity and natural gas supply, grid management, energy efficiency programs and demand-response offerings.