CMS Energy (NYSE:CMS) Issues FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.290-3.350 for the period, compared to the consensus EPS estimate of 3.330. The company issued revenue guidance of -. CMS Energy also updated its FY24 guidance to $3.29-$3.35 EPS.

CMS Energy Stock Performance

Shares of CMS stock traded down $0.25 during mid-day trading on Friday, hitting $62.96. 1,609,165 shares of the stock were exchanged, compared to its average volume of 1,826,400. The stock’s fifty day simple moving average is $60.66 and its two-hundred day simple moving average is $59.44. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 2.51 and a beta of 0.38. CMS Energy has a 12-month low of $49.87 and a 12-month high of $64.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.05 and a current ratio of 1.70.

CMS Energy (NYSE:CMS) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. On average, analysts forecast that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, August 2nd. CMS Energy’s dividend payout ratio is currently 62.80%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMS. Wells Fargo & Company raised their price target on CMS Energy from $66.00 to $70.00 and gave the stock an overweight rating in a report on Friday. KeyCorp raised their price target on CMS Energy from $66.00 to $68.00 and gave the stock an overweight rating in a report on Monday, May 20th. Barclays raised their price target on CMS Energy from $57.00 to $59.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. UBS Group lowered CMS Energy from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a report on Thursday, April 4th. Finally, BMO Capital Markets raised their price target on CMS Energy from $68.00 to $71.00 and gave the stock an outperform rating in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $65.00.

Insider Activity

In other news, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the sale, the director now directly owns 14,556 shares in the company, valued at approximately $884,859.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Brian F. Rich sold 2,000 shares of CMS Energy stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $61.10, for a total transaction of $122,200.00. Following the completion of the sale, the senior vice president now directly owns 97,682 shares in the company, valued at approximately $5,968,370.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jon E. Barfield sold 2,360 shares of CMS Energy stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the sale, the director now owns 14,556 shares of the company’s stock, valued at $884,859.24. The disclosure for this sale can be found here. In the last three months, insiders sold 6,027 shares of company stock worth $365,651. Company insiders own 0.40% of the company’s stock.

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.