Seaport Res Ptn Predicts Increased Earnings for CMS Energy

CMS Energy Co. (NYSE:CMS - Free Report) - Research analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of CMS Energy in a report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $3.34 per share for the year, up from their previous estimate of $3.33. The consensus estimate for CMS Energy's current full-year earnings is $3.33 per share. Seaport Res Ptn also issued estimates for CMS Energy's FY2026 earnings at $3.87 EPS, FY2027 earnings at $4.15 EPS and FY2028 earnings at $4.46 EPS.

CMS Energy (NYSE:CMS - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a return on equity of 12.81% and a net margin of 14.01%. The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share.

Several other research firms also recently weighed in on CMS. BMO Capital Markets dropped their price target on CMS Energy from $77.00 to $76.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Morgan Stanley cut their price target on shares of CMS Energy from $69.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Barclays lifted their price objective on shares of CMS Energy from $65.00 to $68.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price objective on shares of CMS Energy from $70.00 to $77.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on shares of CMS Energy in a report on Tuesday, November 5th. They issued a "buy" rating and a $76.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.36.

CMS Energy Stock Performance

Shares of NYSE CMS traded up $0.29 during midday trading on Tuesday, reaching $65.71. The company had a trading volume of 1,578,381 shares, compared to its average volume of 1,288,120. The stock has a market cap of $19.63 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.66 and a beta of 0.42. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 1.86. CMS Energy has a 1 year low of $55.10 and a 1 year high of $72.40. The business's 50-day simple moving average is $67.83 and its 200 day simple moving average is $66.84.

Hedge Funds Weigh In On CMS Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CMS. Mackenzie Financial Corp lifted its stake in shares of CMS Energy by 0.6% in the 2nd quarter. Mackenzie Financial Corp now owns 25,390 shares of the utilities provider's stock valued at $1,511,000 after purchasing an additional 157 shares during the last quarter. Voisard Asset Management Group Inc. raised its holdings in CMS Energy by 25.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider's stock valued at $56,000 after buying an additional 163 shares during the period. OneDigital Investment Advisors LLC lifted its position in CMS Energy by 5.4% in the third quarter. OneDigital Investment Advisors LLC now owns 3,625 shares of the utilities provider's stock valued at $256,000 after buying an additional 187 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in CMS Energy by 1.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 15,675 shares of the utilities provider's stock worth $1,107,000 after buying an additional 200 shares during the period. Finally, Private Trust Co. NA increased its position in shares of CMS Energy by 25.6% during the third quarter. Private Trust Co. NA now owns 982 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 200 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CMS Energy news, Director John G. Russell sold 28,750 shares of CMS Energy stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total transaction of $1,893,187.50. Following the sale, the director now owns 144,059 shares of the company's stock, valued at $9,486,285.15. The trade was a 16.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.17, for a total transaction of $136,340.00. Following the completion of the sale, the senior vice president now owns 64,771 shares of the company's stock, valued at $4,415,439.07. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,686 shares of company stock worth $2,228,084 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

CMS Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.13%. This is an increase from CMS Energy's previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, November 13th. CMS Energy's dividend payout ratio (DPR) is presently 58.86%.

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.