CMS Energy (CMS) Set to Announce Earnings on Thursday

CMS Energy (NYSE:CMS) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.07 per share for the quarter. CMS Energy has set its FY 2024 guidance at 3.290-3.350 EPS and its FY24 guidance at $3.29-3.35 EPS.Investors interested in listening to the company’s conference call can do so using this link.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business posted $0.60 EPS. CMS Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, analysts expect CMS Energy to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

CMS Energy Price Performance

Shares of CMS Energy stock opened at $58.25 on Thursday. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.23 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The stock’s 50-day simple moving average is $58.32 and its 200-day simple moving average is $57.09. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76.

CMS Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, February 9th. This is an increase from CMS Energy’s previous quarterly dividend of $0.49. CMS Energy’s dividend payout ratio (DPR) is 68.44%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CMS. Royal Bank of Canada cut their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Wolfe Research raised CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target for the company in a research note on Tuesday, January 16th. Finally, KeyCorp raised their price target on CMS Energy from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CMS Energy currently has an average rating of “Moderate Buy” and an average target price of $62.64.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in CMS Energy during the 1st quarter valued at about $188,418,000. Morgan Stanley increased its holdings in CMS Energy by 75.0% during the fourth quarter. Morgan Stanley now owns 4,457,642 shares of the utilities provider’s stock valued at $282,303,000 after buying an additional 1,910,519 shares during the period. Norges Bank bought a new position in CMS Energy in the fourth quarter worth approximately $115,134,000. State Street Corp lifted its holdings in CMS Energy by 11.0% during the first quarter. State Street Corp now owns 16,331,901 shares of the utilities provider’s stock worth $1,142,253,000 after buying an additional 1,613,255 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in CMS Energy by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,992,116 shares of the utilities provider’s stock worth $367,797,000 after buying an additional 1,095,342 shares during the period. Institutional investors own 93.57% of the company’s stock.

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.