CMS Energy (NYSE:CMS) Releases FY24 Earnings Guidance

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

CMS Energy Price Performance

Shares of NYSE CMS traded down $1.13 during midday trading on Friday, reaching $59.35. 2,386,366 shares of the company were exchanged, compared to its average volume of 2,514,217. The stock’s 50-day moving average price is $58.76 and its 200-day moving average price is $57.42. The stock has a market cap of $17.72 billion, a P/E ratio of 19.72, a PEG ratio of 2.34 and a beta of 0.38. CMS Energy has a one year low of $49.87 and a one year 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.

CMS Energy (NYSE:CMS) last posted 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. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, sell-side analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.515 per share. The ex-dividend date is Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.47%. CMS Energy’s dividend payout ratio (DPR) is presently 68.44%.

Analyst Upgrades and Downgrades

CMS has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of CMS Energy from $67.00 to $68.00 and gave the stock an outperform rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of CMS Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Wednesday, March 13th. UBS Group lowered shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a report on Thursday, April 4th. Seaport Res Ptn lowered shares of CMS Energy from a buy rating to a neutral rating in a report on Monday, January 8th. Finally, Wolfe Research upgraded shares of CMS Energy from a peer perform rating to an outperform rating and set a $62.00 target price on the stock in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $63.33.

Insider Transactions 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 completion of the sale, the senior vice president now directly owns 68,971 shares of the company’s stock, valued at $3,985,144.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by insiders.

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.