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

CMS Energy (NYSE:CMS - Get Free Report) announced its quarterly earnings results on Thursday. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.05, RTT News reports. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.32 billion. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior 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 Stock Up 0.3 %

NYSE:CMS traded up $0.21 during trading hours on Thursday, hitting $60.49. 5,007,155 shares of the stock traded hands, compared to its average volume of 2,515,816. The firm has a 50 day moving average price of $58.65 and a 200 day moving average price of $57.36. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.32 and a beta of 0.38. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $63.76. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Tuesday, May 14th. CMS Energy's dividend payout ratio is 68.44%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CMS shares. BMO Capital Markets increased their target price on CMS Energy from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 17th. Seaport Res Ptn downgraded CMS Energy from a "buy" rating to a "neutral" rating in a research note on Monday, January 8th. UBS Group cut CMS Energy from a "buy" rating to a "neutral" rating and set a $65.00 target price for the company. in a research note on Thursday, April 4th. KeyCorp lifted 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the company an "overweight" rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.00.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of the company's stock in a transaction on 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 $3,985,144.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.

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.