FY2024 EPS Estimates for CMS Energy Co. Reduced by Analyst (NYSE:CMS)

CMS Energy Co. (NYSE:CMS - Free Report) - Analysts at Seaport Res Ptn cut their FY2024 earnings estimates for shares of CMS Energy in a research report issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $3.31 per share for the year, down from their previous estimate of $3.34. Seaport Res Ptn has a "Neutral" rating on the stock. The consensus estimate for CMS Energy's current full-year earnings is $3.33 per share.

Several other equities research analysts have also recently weighed in on CMS. JPMorgan Chase & Co. upped their target price on CMS Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a report on Wednesday, March 13th. Guggenheim upgraded CMS Energy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $60.00 to $64.00 in a report on Friday, February 2nd. KeyCorp upped their target price on CMS Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. UBS Group cut CMS Energy from a "buy" rating to a "neutral" rating and set a $65.00 price objective for the company. in a research note on Thursday, April 4th. Finally, Wolfe Research upgraded CMS Energy from a "peer perform" rating to an "outperform" rating and set a $62.00 price objective for the company in a research note on Tuesday, January 16th. One research 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, CMS Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.33.

CMS Energy Stock Performance

NYSE CMS traded down $1.13 on Friday, reaching $59.35. 2,386,366 shares of the stock were exchanged, compared to its average volume of 2,514,217. The firm has a market capitalization of $17.72 billion, a PE ratio of 19.81, a PEG ratio of 2.34 and a beta of 0.38. CMS Energy has a one year low of $49.87 and a one year high of $63.76. The company's 50-day simple moving average is $58.72 and its two-hundred day simple moving average is $57.38. The company has a current ratio of 0.98, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84.

CMS Energy (NYSE:CMS - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. CMS Energy had a net margin of 11.89% and a return on equity of 12.09%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $0.70 EPS. The business's quarterly revenue was down 4.7% compared to the same quarter last year.

CMS Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, May 14th. CMS Energy's dividend payout ratio is currently 68.44%.

Insider Activity at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total transaction of $202,230.00. Following the transaction, the senior vice president now directly owns 68,971 shares of the company's stock, valued at approximately $3,985,144.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CI Investments Inc. increased its holdings in shares of CMS Energy by 3.0% in the third quarter. CI Investments Inc. now owns 6,415 shares of the utilities provider's stock valued at $341,000 after purchasing an additional 185 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in CMS Energy by 30.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 785 shares of the utilities provider's stock worth $46,000 after acquiring an additional 185 shares during the period. Stratos Wealth Advisors LLC grew its holdings in CMS Energy by 2.4% during the third quarter. Stratos Wealth Advisors LLC now owns 8,187 shares of the utilities provider's stock worth $435,000 after acquiring an additional 192 shares during the period. Orion Portfolio Solutions LLC grew its holdings in CMS Energy by 0.9% during the fourth quarter. Orion Portfolio Solutions LLC now owns 20,607 shares of the utilities provider's stock worth $1,228,000 after acquiring an additional 192 shares during the period. Finally, Centerpoint Advisors LLC grew its holdings in CMS Energy by 25.0% during the third quarter. Centerpoint Advisors LLC now owns 1,000 shares of the utilities provider's stock worth $53,000 after acquiring an additional 200 shares during the period. 93.57% of the stock is owned by institutional investors and hedge funds.

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.