Seaport Res Ptn Boosts Earnings Estimates for CMS Energy

CMS Energy Co. (NYSE:CMS) – Research analysts at Seaport Res Ptn raised their FY2024 EPS estimates for CMS Energy in a note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $3.33 per share for the year, up from their prior forecast of $3.31. 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 FY2025 earnings at $3.59 EPS and FY2027 earnings at $4.12 EPS.

Several other research analysts have also weighed in on CMS. KeyCorp increased their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets cut their target price on CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Scotiabank boosted their price target on CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Evercore ISI upgraded CMS Energy to a “hold” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, CMS Energy presently has an average rating of “Moderate Buy” and a consensus target price of $69.85.

CMS Energy Stock Down 1.9 %

Shares of NYSE:CMS opened at $68.30 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.79 and a beta of 0.41. The stock’s 50-day moving average price is $69.80 and its two-hundred day moving average price is $64.62. CMS Energy has a 12-month low of $54.13 and a 12-month high of $72.40.

CMS Energy (NYSE:CMS) last issued its quarterly earnings results 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. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Wednesday, November 13th. This is a positive change from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is 63.19%.

Hedge Funds Weigh In On CMS Energy

Institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in shares of CMS Energy by 101.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,891,027 shares of the utilities provider’s stock worth $410,223,000 after buying an additional 3,473,977 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of CMS Energy by 14.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,662,964 shares of the utilities provider’s stock valued at $1,367,483,000 after purchasing an additional 2,786,071 shares in the last quarter. Raymond James & Associates lifted its position in shares of CMS Energy by 310.2% during the third quarter. Raymond James & Associates now owns 1,125,859 shares of the utilities provider’s stock worth $79,519,000 after purchasing an additional 851,364 shares during the last quarter. iA Global Asset Management Inc. grew its stake in CMS Energy by 105.9% in the second quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock worth $92,623,000 after purchasing an additional 800,344 shares in the last quarter. Finally, Railway Pension Investments Ltd bought a new stake in CMS Energy in the second quarter valued at about $47,082,000. 93.57% of the stock is owned by institutional investors and hedge funds.

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.