CMS Energy FY2024 EPS Forecast Lifted by Seaport Res Ptn

CMS Energy Co. (NYSE:CMS) – Equities research analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for CMS Energy in a research note issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings per share of $3.34 for the year, up from their previous forecast 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.

A number of other research analysts have also commented on CMS. KeyCorp upped their price target on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Scotiabank upped their target price on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of CMS Energy in a research report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 price target on the stock. Barclays upped 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 report on Tuesday, October 15th. Finally, Morgan Stanley decreased their target price on CMS Energy from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.36.

CMS Energy Trading Down 1.9 %

CMS Energy stock opened at $65.34 on Tuesday. The business’s 50-day simple moving average is $67.83 and its 200-day simple moving average is $66.84. CMS Energy has a 52 week low of $55.10 and a 52 week high of $72.40. The firm has a market capitalization of $19.52 billion, a PE ratio of 18.67, a PEG ratio of 2.66 and a beta of 0.42. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.83 and a current ratio of 1.23.

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

CMS Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s payout ratio is currently 58.86%.

Insider Transactions at CMS Energy

In other CMS Energy news, CAO Scott B. Mcintosh sold 936 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $68.50, for a total value of $64,116.00. Following the transaction, the chief accounting officer now owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John G. Russell sold 28,750 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $65.85, for a total value of $1,893,187.50. Following the completion of the sale, the director now owns 144,059 shares of the company’s stock, valued at approximately $9,486,285.15. This trade represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,686 shares of company stock valued at $2,228,084. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CMS Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in shares of CMS Energy by 171.9% during the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 275 shares in the last quarter. Brooklyn Investment Group bought a new position in CMS Energy in the 3rd quarter worth approximately $40,000. Covestor Ltd lifted its holdings in CMS Energy by 206.1% during the 3rd quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after buying an additional 472 shares in the last quarter. Values First Advisors Inc. bought a new position in CMS Energy in the 3rd quarter valued at $56,000. Finally, Voisard Asset Management Group Inc. increased its stake in shares of 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. Institutional investors own 93.57% of the company’s stock.

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.