CMS Energy (NYSE:CMS) Releases FY24 Earnings Guidance

CMS Energy (NYSE:CMS) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.29 to $3.35 for the period, compared to the consensus EPS estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

Analyst Ratings Changes

Several brokerages have issued reports on CMS. Morgan Stanley increased their price target on CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI raised shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. KeyCorp increased their price objective on CMS Energy from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America increased their target price on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price target on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.85.

CMS Energy Stock Performance

Shares of NYSE CMS opened at $68.30 on Friday. The firm’s 50-day moving average price is $69.80 and its 200-day moving average price is $64.67. The company has a market cap of $20.40 billion, a PE ratio of 20.95, a PEG ratio of 2.79 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. CMS Energy has a 52-week low of $54.13 and a 52-week high of $72.40.

CMS Energy (NYSE:CMS) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. CMS Energy’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. As a group, analysts anticipate that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s payout ratio is currently 63.19%.

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.