CMS Energy (NYSE:CMS) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Seaport Res Ptn downgraded CMS Energy from a buy rating to a neutral rating in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a report on Wednesday, March 13th. Guggenheim upgraded CMS Energy from a neutral rating to a buy rating and raised their price objective for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. Royal Bank of Canada reduced their price objective on CMS Energy from $65.00 to $63.00 and set an outperform rating on the stock in a report on Monday, March 4th. Finally, UBS Group cut CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, CMS Energy presently has a consensus rating of Moderate Buy and an average target price of $63.33.

CMS Energy Stock Down 1.9 %

Shares of CMS Energy stock traded down $1.14 during trading on Friday, reaching $59.34. The company’s stock had a trading volume of 2,386,366 shares, compared to its average volume of 2,522,026. The company has a quick ratio of 0.66, a current ratio of 2.03 and a debt-to-equity ratio of 1.91. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.35 and a beta of 0.38. CMS Energy has a 1-year low of $49.87 and a 1-year high of $63.76. The company has a 50-day simple moving average of $58.76 and a two-hundred day simple moving average of $57.42.

CMS Energy (NYSE:CMS) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a return on equity of 12.83% and a net margin of 13.19%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. As a group, equities analysts forecast that CMS Energy will post 3.32 earnings per share for the current year.

CMS Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 yield of 3.47%. CMS Energy’s dividend payout ratio is currently 62.80%.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction 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 approximately $3,985,144.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

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.