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

CMS Energy (NYSE:CMS) released its quarterly earnings data on Thursday. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. CMS Energy’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. 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 0.2 %

Shares of CMS stock traded down $0.14 on Thursday, reaching $60.14. 1,967,194 shares of the stock were exchanged, compared to its average volume of 2,476,594. The stock has a market cap of $17.96 billion, a PE ratio of 20.03, a P/E/G ratio of 2.32 and a beta of 0.38. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The stock has a 50 day moving average price of $58.65 and a 200 day moving average price of $57.36.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on CMS. UBS Group lowered CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Thursday, April 4th. BMO Capital Markets boosted their price target on CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Guggenheim raised CMS Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $64.00 in a research note on Friday, February 2nd. KeyCorp boosted their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Seaport Res Ptn lowered CMS Energy from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was 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 $3,985,144.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate 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.