CMS Energy (NYSE:CMS) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CMS Energy (NYSE:CMS) released its quarterly earnings data on Thursday. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06, Briefing.com reports. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the business posted $0.61 EPS. CMS Energy’s revenue for the quarter was up 4.2% on a year-over-year basis.

CMS Energy Stock Down 1.9 %

CMS Energy stock traded down $1.31 during midday trading on Friday, reaching $68.30. The stock had a trading volume of 2,807,363 shares, compared to its average volume of 2,256,258. CMS Energy has a 12 month low of $54.13 and a 12 month high of $72.40. The company has a market capitalization of $20.40 billion, a P/E ratio of 20.95, a PEG ratio of 2.79 and a beta of 0.41. The company has a fifty day moving average price of $69.80 and a two-hundred day moving average price of $64.62. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, November 13th. CMS Energy’s payout ratio is presently 63.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America lifted their target price on CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Mizuho downgraded 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 report on Tuesday, October 15th. Evercore ISI raised CMS Energy to a “hold” rating in a report on Friday, July 26th. Finally, Scotiabank lifted their target price on CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.85.

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.