CMS Energy FY2024 EPS Estimate Lifted by Seaport Res Ptn

CMS Energy Co. (NYSE:CMS) – Seaport Res Ptn lifted their FY2024 earnings estimates for CMS Energy in a research report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $3.34 per share for the year, up from their previous forecast of $3.33. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share. Seaport Res Ptn also issued estimates for CMS Energy’s FY2026 earnings at $3.87 EPS, FY2027 earnings at $4.15 EPS and FY2028 earnings at $4.46 EPS.

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

A number of other equities research analysts have also weighed in on CMS. BMO Capital Markets lowered their price objective on CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Barclays raised their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Morgan Stanley dropped their price target on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. StockNews.com downgraded CMS Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Finally, Scotiabank increased their price target on CMS Energy from $75.00 to $77.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

CMS Energy Price Performance

Shares of CMS stock opened at $66.34 on Tuesday. CMS Energy has a twelve month low of $55.10 and a twelve month high of $72.40. The company has a market capitalization of $19.82 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. The firm has a fifty day simple moving average of $67.68 and a 200-day simple moving average of $66.88.

Institutional Investors Weigh In On CMS Energy

A number of institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in shares of CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock worth $537,503,000 after purchasing an additional 719,093 shares in the last quarter. Geode Capital Management LLC lifted its position in CMS Energy by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider’s stock worth $528,713,000 after buying an additional 105,062 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of CMS Energy by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider’s stock valued at $152,267,000 after buying an additional 18,403 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CMS Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock valued at $128,715,000 after acquiring an additional 25,196 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of CMS Energy by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,504 shares of the utilities provider’s stock worth $76,292,000 after acquiring an additional 233,633 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John G. Russell sold 28,750 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the sale, the director now owns 144,059 shares of the company’s stock, valued at $9,486,285.15. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $68.17, for a total value of $136,340.00. Following the transaction, the senior vice president now directly owns 64,771 shares in the company, valued at $4,415,439.07. The trade was a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,686 shares of company stock valued at $2,228,084. 0.40% of the stock is owned by corporate insiders.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.515 dividend. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 13th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.11%. CMS Energy’s dividend payout ratio (DPR) is 58.86%.

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.