CMS Energy (NYSE:CMS) Posts Quarterly Earnings Results

CMS Energy (NYSE:CMS) posted its quarterly earnings results on Tuesday. The utilities provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.35 by $0.09, FiscalAI reports. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.23 billion. CMS Energy had a net margin of 11.64% and a return on equity of 10.76%.

CMS Energy Trading Up 0.1%

NYSE:CMS opened at $69.67 on Tuesday. CMS Energy has a one year low of $62.28 and a one year high of $80.36. The business has a fifty day moving average price of $66.93 and a 200-day moving average price of $72.54. The firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.32. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.67.

CMS Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, November 6th. CMS Energy’s dividend payout ratio (DPR) is currently 68.47%.

Wall Street Analysts Forecast Growth

CMS has been the subject of a number of research reports. Scotiabank reissued a “sector outperform” rating and issued a $78.00 price target on shares of CMS Energy in a research note on Thursday, October 1st. Jefferies Financial Group dropped their price target on CMS Energy from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Tuesday, September 15th. HSBC initiated coverage on CMS Energy in a research note on Thursday, October 22nd. They issued a “hold” rating and a $69.00 price target on the stock. Morgan Stanley reduced their price objective on CMS Energy from $77.00 to $73.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 21st. Finally, BMO Capital Markets lifted their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.76.

CMS Energy Company Profile

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.