CMS Energy (CMS) Set to Announce Earnings on Thursday

CMS Energy (NYSE:CMS) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.07 per share for the quarter. CMS Energy has set its FY 2024 guidance at 3.290-3.350 EPS and its FY24 guidance at $3.29-3.35 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

CMS Energy (NYSE:CMS) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was down 14.4% on a year-over-year basis. On average, analysts expect CMS Energy to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

CMS Energy Trading Up 2.4 %

NYSE:CMS opened at $58.25 on Thursday. The business’s 50-day moving average is $58.32 and its two-hundred day moving average is $57.09. The firm has a market capitalization of $17.39 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.23 and a beta of 0.38. CMS Energy has a 12 month low of $49.87 and a 12 month high of $63.76. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Monday, February 12th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.54%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.49. CMS Energy’s dividend payout ratio (DPR) is 68.44%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMS. Seaport Res Ptn downgraded shares of CMS Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. UBS Group downgraded 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 note on Thursday, April 4th. Wolfe Research upgraded shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a report on Tuesday, January 16th. BMO Capital Markets raised their target price on CMS Energy from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, KeyCorp boosted their price target on CMS Energy from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.64.

Insider Buying and Selling

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 completion of the sale, the senior vice president now directly owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in CMS Energy by 5.1% during the 1st quarter. State Street Corp now owns 17,323,536 shares of the utilities provider’s stock valued at $1,063,319,000 after purchasing an additional 844,330 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of CMS Energy by 1.3% during the second quarter. Wells Fargo & Company MN now owns 6,327,495 shares of the utilities provider’s stock valued at $371,740,000 after acquiring an additional 82,454 shares during the period. Geode Capital Management LLC grew its position in shares of CMS Energy by 2.0% during the first quarter. Geode Capital Management LLC now owns 6,285,926 shares of the utilities provider’s stock worth $384,994,000 after acquiring an additional 124,854 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of CMS Energy by 22.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,992,116 shares of the utilities provider’s stock worth $367,797,000 after acquiring an additional 1,095,342 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of CMS Energy by 75.0% in the 4th quarter. Morgan Stanley now owns 4,457,642 shares of the utilities provider’s stock worth $282,303,000 after acquiring an additional 1,910,519 shares during the period. Institutional investors and hedge funds own 93.57% 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.