CMS Energy (NYSE:CMS) Posts Earnings Results, Beats Estimates By $0.05 EPS

CMS Energy (NYSE:CMS) released its quarterly earnings data on Thursday. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05, RTT News reports. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. CMS Energy updated its FY 2024 guidance to 3.290-3.350 EPS and its FY24 guidance to $3.29 to $3.35 EPS.

CMS Energy Trading Down 1.9 %

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

CMS Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s payout ratio is presently 62.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, March 4th. KeyCorp lifted their price target on shares of CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 19th. UBS Group downgraded shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target 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. Finally, Wolfe Research raised shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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 CMS Energy stock in a transaction that occurred on 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 owns 68,971 shares in the company, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by corporate 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.