CMS Energy (NYSE:CMS) Releases FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.290-3.350 for the period, compared to the consensus estimate of 3.330. The company issued revenue guidance of -. CMS Energy also updated its FY24 guidance to $3.29 to $3.35 EPS.

CMS Energy Stock Down 1.9 %

Shares of CMS traded down $1.14 during trading on Friday, reaching $59.34. The company’s stock had a trading volume of 2,386,366 shares, compared to its average volume of 2,522,026. The company has a fifty day moving average of $58.76 and a two-hundred day moving average of $57.42. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.35 and a beta of 0.38. The company has a quick ratio of 0.66, a current ratio of 2.03 and a debt-to-equity ratio of 1.91.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted $0.70 EPS. CMS Energy’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts predict that CMS Energy will post 3.32 EPS for the current fiscal year.

CMS Energy Announces Dividend

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 given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s dividend payout ratio is currently 62.80%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMS. Guggenheim raised CMS Energy from a neutral rating to a buy rating and upped their price target for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. Wolfe Research upgraded CMS Energy from a peer perform rating to an outperform rating and set a $62.00 price objective for the company in a research note on Tuesday, January 16th. UBS Group downgraded CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a research note on Thursday, April 4th. BMO Capital Markets upped their price objective on CMS Energy from $67.00 to $68.00 and gave the stock an outperform rating in a research note on Friday. Finally, Royal Bank of Canada decreased their price target on CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $63.33.

Insider Activity at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the company’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 directly owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.40% 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.