KeyCorp Issues Pessimistic Estimate for CMS Energy Earnings

CMS Energy Co. (NYSE:CMS) – Investment analysts at KeyCorp decreased their Q4 2024 EPS estimates for CMS Energy in a research note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $0.84 per share for the quarter, down from their prior estimate of $0.88. KeyCorp currently has a “Overweight” rating and a $76.00 price objective on the stock. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. CMS Energy’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share.

CMS has been the topic of several other reports. Bank of America increased their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $76.00 to $72.00 in a report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of CMS Energy in a research note on Tuesday, November 5th. They set a “buy” rating and a $76.00 price objective for the company. Finally, Scotiabank raised their target price on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.21.

CMS Energy Price Performance

CMS Energy stock opened at $67.38 on Thursday. The stock has a market capitalization of $20.13 billion, a P/E ratio of 19.25, a P/E/G ratio of 2.72 and a beta of 0.41. The company’s fifty day moving average price is $69.57 and its 200 day moving average price is $65.87. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23. CMS Energy has a 1 year low of $55.10 and a 1 year high of $72.40.

Hedge Funds Weigh In On CMS Energy

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in CMS Energy by 79.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 731,887 shares of the utilities provider’s stock valued at $43,569,000 after acquiring an additional 325,101 shares during the last quarter. Cetera Investment Advisers grew its position in shares of CMS Energy by 325.4% in the first quarter. Cetera Investment Advisers now owns 26,219 shares of the utilities provider’s stock valued at $1,582,000 after purchasing an additional 20,056 shares during the last quarter. Quest Partners LLC increased its stake in shares of CMS Energy by 130,804.3% during the 2nd quarter. Quest Partners LLC now owns 30,108 shares of the utilities provider’s stock worth $1,792,000 after purchasing an additional 30,085 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of CMS Energy by 992.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 251,525 shares of the utilities provider’s stock worth $18,075,000 after purchasing an additional 228,501 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in CMS Energy by 10.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after buying an additional 719,093 shares in the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the transaction, the senior vice president now directly owns 64,771 shares of the company’s stock, valued at $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Scott B. Mcintosh sold 936 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $68.50, for a total value of $64,116.00. Following the completion of the sale, the chief accounting officer now directly owns 24,417 shares of the company’s stock, valued at $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.515 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.06%. CMS Energy’s dividend payout ratio is 58.86%.

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.