CMS Energy (NYSE:CMS) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CMS Energy (NYSE:CMS) issued its quarterly earnings data on Thursday. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06, Briefing.com reports. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share.

CMS Energy Stock Performance

Shares of NYSE CMS traded down $1.31 during mid-day trading on Friday, reaching $68.30. 2,807,363 shares of the company were exchanged, compared to its average volume of 2,256,258. The stock has a market capitalization of $20.40 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.79 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The company’s 50-day simple moving average is $69.78 and its 200-day simple moving average is $64.54. CMS Energy has a twelve month low of $54.13 and a twelve month high of $72.40.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s payout ratio is currently 63.19%.

Analyst Ratings Changes

A number of analysts have recently commented on CMS shares. Mizuho lowered CMS Energy from an “outperform” rating to a “neutral” rating and cut their price target for the company from $76.00 to $72.00 in a report on Tuesday, October 15th. Guggenheim raised their price target on shares of CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their target price on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of CMS Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays increased their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, CMS Energy has an average rating of “Moderate Buy” and a consensus price target of $69.85.

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.