CMS Energy (NYSE:CMS) Releases Earnings Results, Beats Estimates By $0.05 EPS

CMS Energy (NYSE:CMS) issued its quarterly earnings results on Thursday. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. 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 analysts’ expectations of $2.32 billion. During the same quarter last year, the business earned $0.70 earnings per share. CMS Energy’s revenue was down 4.7% on a year-over-year basis. CMS Energy updated its FY 2024 guidance to 3.290-3.350 EPS and its FY24 guidance to $3.29 to $3.35 EPS.

CMS Energy Trading Down 1.9 %

Shares of CMS Energy stock traded down $1.14 on Friday, reaching $59.34. 2,386,366 shares of the company’s stock were exchanged, compared to its average volume of 2,522,026. The company has a market capitalization of $17.72 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38. CMS Energy has a 52 week low of $49.87 and a 52 week high of $63.76. The firm’s 50-day moving average is $58.76 and its two-hundred day moving average is $57.45. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.66 and a current ratio of 2.03.

CMS Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s payout ratio is 62.80%.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

CMS has been the topic of a number of recent analyst reports. KeyCorp lifted their target price on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Barclays decreased their target price on CMS Energy from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. BMO Capital Markets lifted their target price on CMS Energy from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada cut their price target on CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. lifted their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

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.