CMS Energy (NYSE:CMS) Releases 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

Shares of NYSE:CMS traded down $1.13 during trading on Friday, hitting $59.35. 2,386,366 shares of the stock were exchanged, compared to its average volume of 2,514,217. The company’s fifty day simple moving average is $58.76 and its 200-day simple moving average is $57.42. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.98. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The company 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%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. Sell-side analysts expect that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued 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 (DPR) is presently 68.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMS. Scotiabank reduced their price objective on CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a research report on Monday. Royal Bank of Canada dropped their target price on CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a report on Monday, March 4th. Barclays reduced their target price on CMS Energy from $58.00 to $57.00 and set an equal weight rating on the stock in a report on Monday, April 15th. UBS Group lowered shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Thursday, April 4th. Finally, KeyCorp upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CMS Energy currently has an average rating of Moderate Buy and a consensus target price of $63.33.

Insider Transactions at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the completion of the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

CMS Energy Company Profile

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.