CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.29 to $3.35 for the period, compared to the consensus earnings per share estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

CMS Energy Stock Performance

CMS traded down $1.13 on Friday, hitting $59.35. 2,386,366 shares of the stock traded hands, compared to its average volume of 2,514,217. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $17.72 billion, a PE ratio of 19.72, a P/E/G ratio of 2.34 and a beta of 0.38. The business has a fifty day moving average price of $58.76 and a two-hundred day moving average price of $57.42.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 annualized dividend and a yield of 3.47%. CMS Energy’s dividend payout ratio is 68.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on CMS Energy from $67.00 to $68.00 and gave the company an outperform rating in a research note on Friday. KeyCorp upped their price objective on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Friday, April 19th. JPMorgan Chase & Co. upped their price objective on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Wednesday, March 13th. Barclays lowered their price objective on CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a research note on Monday, April 15th. Finally, Scotiabank lowered their price objective on CMS Energy from $67.00 to $66.00 and set a sector outperform rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CMS Energy currently has an average rating of Moderate Buy and a consensus price target of $63.33.

Insider Transactions at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is owned by company 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.