CMS Energy (NYSE:CMS) Issues FY 2024 Earnings Guidance

CMS Energy (NYSE:CMS) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.290-3.350 for the period, compared to the consensus estimate of 3.330. The company issued revenue guidance of -. CMS Energy also updated its FY24 guidance to $3.29-$3.35 EPS.

CMS Energy Price Performance

CMS opened at $62.96 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.70 and a quick ratio of 1.05. The stock has a market capitalization of $18.80 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 2.50 and a beta of 0.38. The company’s 50 day simple moving average is $60.66 and its 200-day simple moving average is $59.44. CMS Energy has a one year low of $49.87 and a one year high of $64.28.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.73 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Sell-side analysts anticipate that CMS Energy will post 3.33 earnings per share for the current fiscal year.

CMS Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, August 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.24%. CMS Energy’s payout ratio is presently 62.80%.

Analyst Ratings Changes

CMS has been the subject of several analyst reports. Guggenheim lifted their price target on shares of CMS Energy from $66.00 to $67.00 and gave the stock a buy rating in a research report on Friday. UBS Group cut shares of CMS Energy from a buy rating to a neutral rating and set a $65.00 target price for the company. in a research report on Thursday, April 4th. Morgan Stanley reduced their price target on CMS Energy from $61.00 to $58.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. BMO Capital Markets upped their price objective on CMS Energy from $68.00 to $71.00 and gave the company an outperform rating in a report on Tuesday, May 14th. Finally, Wells Fargo & Company raised their target price on CMS Energy from $66.00 to $70.00 and gave the stock an overweight rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $65.00.

Insider Activity at CMS Energy

In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.79, for a total transaction of $143,464.40. Following the sale, the director now directly owns 14,556 shares in the company, valued at approximately $884,859.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CMS Energy news, Director Jon E. Barfield sold 2,360 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $60.79, for a total transaction of $143,464.40. Following the completion of the transaction, the director now owns 14,556 shares in the company, valued at approximately $884,859.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brandon J. Hofmeister sold 1,667 shares of CMS Energy stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $59.98, for a total value of $99,986.66. Following the completion of the sale, the senior vice president now directly owns 68,330 shares in the company, valued at approximately $4,098,433.40. The disclosure for this sale can be found here. In the last three months, insiders sold 6,027 shares of company stock worth $365,651. 0.40% of the stock is owned by company insiders.

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.