CMS Energy (NYSE:CMS) Releases 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 also updated its FY 2025 guidance to 3.520-3.580 EPS.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Mizuho cut CMS Energy from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. Scotiabank boosted their price objective on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. KeyCorp raised their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, StockNews.com raised CMS Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.85.

CMS Energy Price Performance

Shares of CMS Energy stock traded down $1.31 during trading on Friday, reaching $68.30. The company’s stock had a trading volume of 2,807,363 shares, compared to its average volume of 2,256,258. The business has a 50 day moving average price of $69.80 and a 200-day moving average price of $64.62. The company has a market capitalization of $20.40 billion, a P/E ratio of 20.95, a price-to-earnings-growth 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 12-month low of $54.13 and a 12-month high of $72.40.

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

CMS Energy Increases Dividend

The company also recently announced 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 a positive change from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 annualized dividend and a yield of 3.02%. CMS Energy’s dividend payout ratio is 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.