Seaport Res Ptn Boosts Earnings Estimates for CMS Energy

CMS Energy Co. (NYSE:CMS) – Seaport Res Ptn upped their FY2024 earnings estimates for CMS Energy in a research report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $3.34 per share for the year, up from their prior forecast of $3.33. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share. Seaport Res Ptn also issued estimates for CMS Energy’s FY2026 earnings at $3.87 EPS, FY2027 earnings at $4.15 EPS and FY2028 earnings at $4.46 EPS.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. CMS Energy’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS.

A number of other equities research analysts have also recently issued reports on CMS. Morgan Stanley decreased their target price on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Scotiabank raised their target price on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Barclays boosted their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com lowered CMS Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Finally, Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.36.

CMS Energy Stock Performance

CMS opened at $66.34 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. The company has a market cap of $19.82 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42. The stock has a 50-day moving average of $67.68 and a 200-day moving average of $66.88. CMS Energy has a 52-week low of $55.10 and a 52-week high of $72.40.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMS. Massachusetts Financial Services Co. MA boosted its stake in shares of CMS Energy by 101.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock valued at $410,223,000 after purchasing an additional 3,473,977 shares in the last quarter. Raymond James & Associates boosted its holdings in CMS Energy by 310.2% during the 3rd quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after acquiring an additional 851,364 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of CMS Energy by 404.8% in the third quarter. National Bank of Canada FI now owns 892,734 shares of the utilities provider’s stock valued at $63,053,000 after purchasing an additional 715,891 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of CMS Energy by 552.9% during the third quarter. Rockefeller Capital Management L.P. now owns 566,025 shares of the utilities provider’s stock valued at $39,978,000 after purchasing an additional 479,336 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in CMS Energy by 155.2% in the 2nd quarter. Renaissance Technologies LLC now owns 767,100 shares of the utilities provider’s stock valued at $45,665,000 after purchasing an additional 466,500 shares during the period. 93.57% of the stock is owned by institutional investors.

Insider Activity

In other CMS Energy news, SVP Brandon J. Hofmeister sold 2,000 shares of CMS Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $68.17, for a total value of $136,340.00. Following the completion of the transaction, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at $4,415,439.07. The trade was a 3.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John G. Russell sold 28,750 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the sale, the director now directly owns 144,059 shares of the company’s stock, valued at $9,486,285.15. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,686 shares of company stock valued at $2,228,084. 0.40% of the stock is owned by insiders.

CMS Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.515 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s payout ratio is currently 58.86%.

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.