CMS Energy Co. (NYSE:CMS) – Seaport Res Ptn cut their FY2022 earnings per share (EPS) estimates for CMS Energy in a report issued on Thursday, June 10th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings per share of $2.86 for the year, down from their prior estimate of $3.05. Seaport Res Ptn also issued estimates for CMS Energy’s FY2023 earnings at $3.09 EPS and FY2024 earnings at $3.35 EPS.
CMS has been the topic of several other reports. Vertical Research downgraded CMS Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of CMS Energy from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday. They noted that the move was a valuation call. Morgan Stanley cut their price objective on shares of CMS Energy from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday. Credit Suisse Group raised their target price on CMS Energy from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Mizuho reduced their price target on CMS Energy from $65.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. CMS Energy presently has an average rating of “Hold” and an average price target of $67.00.
CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, April 29th. The utilities provider reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.04. CMS Energy had a net margin of 12.48% and a return on equity of 14.74%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in CMS. Private Capital Group LLC boosted its stake in CMS Energy by 241.3% during the 1st quarter. Private Capital Group LLC now owns 430 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 304 shares during the period. Reby Advisors LLC bought a new stake in shares of CMS Energy during the fourth quarter valued at approximately $31,000. E Fund Management Co. Ltd. acquired a new position in shares of CMS Energy during the first quarter worth approximately $31,000. Regal Wealth Group Inc. bought a new position in CMS Energy in the 1st quarter worth approximately $35,000. Finally, Vantage Consulting Group Inc acquired a new stake in CMS Energy in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.90% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 7th were paid a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, May 6th. CMS Energy’s payout ratio is 65.17%.
CMS Energy Company Profile
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through four segments: Electric Utility, Gas Utility, Enterprises, and EnerBank. 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.
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