CMS Energy (NYSE:CMS) Updates FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.290-3.350 for the period, compared to the consensus earnings per share estimate of 3.330. The company issued revenue guidance of -.

CMS Energy Price Performance

CMS Energy stock opened at $60.28 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $18.00 billion, a PE ratio of 20.03, a P/E/G ratio of 2.32 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 stock has a 50-day moving average price of $58.65 and a two-hundred day moving average price of $57.36.

CMS Energy (NYSE:CMS) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Analysts expect that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.42%. CMS Energy’s dividend payout ratio (DPR) is 68.44%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Seaport Res Ptn downgraded CMS Energy from a buy rating to a neutral rating in a research report on Monday, January 8th. Royal Bank of Canada lowered their price objective on CMS Energy from $65.00 to $63.00 and set an outperform rating for the company in a research report on Monday, March 4th. Barclays lowered their price objective on CMS Energy from $58.00 to $57.00 and set an equal weight rating for the company in a research report on Monday, April 15th. UBS Group cut CMS Energy from a buy rating to a neutral rating and set a $65.00 target price for the company. in a research note on Thursday, April 4th. Finally, KeyCorp raised their target price on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $63.00.

Insider Buying and Selling at CMS Energy

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the firm’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 owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.