CMS Energy (NYSE:CMS) Releases Quarterly Earnings Results

Key Points

• CMS Energy reported quarterly EPS of $1.44, beating the $1.35 consensus estimate by $0.09, while revenue of $2.18 billion fell short of the $2.23 billion forecast.
• The company declared a quarterly dividend of $0.57 per share, equivalent to $2.28 annually and a 3.3% yield; the dividend payout ratio is 68.47%.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $77.76, compared with the reported opening price of $69.67.

CMS Energy (NYSE:CMS - Get Free Report) posted its earnings results on Tuesday. The utilities provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.35 by $0.09, FiscalAI reports. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.23 billion. CMS Energy had a return on equity of 10.76% and a net margin of 11.64%.

CMS Energy Trading Up 0.1%

Shares of CMS stock opened at $69.67 on Tuesday. The stock's fifty day moving average price is $66.93 and its two-hundred day moving average price is $72.54. The company has a market cap of $21.85 billion, a PE ratio of 20.92, a P/E/G ratio of 2.54 and a beta of 0.32. CMS Energy has a fifty-two week low of $62.28 and a fifty-two week high of $80.36. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 0.94.

CMS Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 6th. CMS Energy's dividend payout ratio (DPR) is currently 68.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group reiterated a "neutral" rating and issued a $84.00 price objective on shares of CMS Energy in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on CMS Energy from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Jefferies Financial Group dropped their price target on CMS Energy from $78.00 to $74.00 and set a "hold" rating for the company in a research note on Tuesday, September 15th. Wall Street Zen raised shares of CMS Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 5th. Finally, Weiss Ratings cut shares of CMS Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $77.76.

About CMS Energy

CMS Energy Corporation is an energy company headquartered in Jackson, Michigan. Through its principal subsidiary, Consumers Energy, the company provides electric and natural gas utility services to residential, commercial and industrial customers throughout Michigan.

Consumers Energy operates and maintains electric generation, transmission and distribution infrastructure, as well as natural gas storage and distribution systems. CMS Energy also conducts independent power generation and energy-related activities through its businesses focused on renewable energy, natural gas and other power projects.

Founded in 1987 as a holding company, CMS Energy traces its utility operations to Consumers Power Company, which was established in Michigan in the late 19th century.

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