CMS Energy (NYSE:CMS) Releases FY24 Earnings Guidance

CMS Energy (NYSE:CMS - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.29 to $3.35 for the period, compared to the consensus earnings per share estimate of $3.33. CMS Energy also updated its FY 2024 guidance to 3.290-3.350 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMS. KeyCorp upped their target price on CMS Energy from $65.00 to $66.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Seaport Res Ptn cut CMS Energy from a buy rating to a neutral rating in a research report on Monday, January 8th. 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 report on Thursday, April 4th. Guggenheim raised CMS Energy from a neutral rating to a buy rating and increased their price objective for the company from $60.00 to $64.00 in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on 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 issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $63.00.

CMS Energy Stock Performance

Shares of NYSE CMS traded up $0.21 during trading hours on Thursday, reaching $60.49. The stock had a trading volume of 5,007,155 shares, compared to its average volume of 2,515,816. The business's fifty day moving average is $58.72 and its two-hundred day moving average is $57.38. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.98 and a quick ratio of 0.66. The company has a market cap of $18.06 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.32 and a beta of 0.38. CMS Energy has a twelve month low of $49.87 and a twelve month high of $63.76.

CMS Energy (NYSE:CMS - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the company posted $0.70 earnings per share. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts expect that CMS Energy will post 3.33 EPS for the current year.

CMS Energy Announces Dividend

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

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the 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 completion of the transaction, the senior vice president now directly owns 68,971 shares in the company, valued at $3,985,144.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.