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 FY24 guidance to $3.29 to $3.35 EPS.

CMS Energy Price Performance

NYSE:CMS traded up $0.21 during trading hours on Thursday, reaching $60.49. 5,007,155 shares of the company’s stock were exchanged, compared to its average volume of 2,515,816. The company has a market capitalization of $18.06 billion, a P/E ratio of 20.10, a price-to-earnings-growth 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 company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The business’s 50-day simple moving average is $58.72 and its two-hundred day simple moving average is $57.38.

CMS Energy (NYSE:CMS) last issued its earnings results 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. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Sell-side analysts expect that CMS Energy will post 3.33 EPS for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.515 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.41%. CMS Energy’s dividend payout ratio is 68.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of CMS Energy from $63.00 to $64.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their price objective on CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a research report on Wednesday, March 13th. Royal Bank of Canada reduced 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. UBS Group cut CMS Energy from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a research report on Thursday, April 4th. Finally, Scotiabank reduced their price objective on CMS Energy from $67.00 to $66.00 and set a sector outperform rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CMS Energy currently has an average rating of Moderate Buy and an average target price of $63.00.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 3,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares in the company, valued at approximately $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

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.