CMS Energy FY2024 EPS Forecast Lifted by Seaport Res Ptn

CMS Energy Co. (NYSE:CMS) – Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of CMS Energy in a note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $3.34 per share for the year, up from their prior 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) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.84 EPS 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 the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley lowered their target price on shares of CMS Energy from $69.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays increased their target price on shares of CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Scotiabank lifted their price target on shares of CMS Energy from $75.00 to $77.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Finally, 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 research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

CMS Energy Stock Performance

CMS Energy stock opened at $65.71 on Tuesday. The stock has a fifty day moving average price of $67.75 and a 200 day moving average price of $66.88. 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 52 week low of $55.10 and a 52 week high of $72.40. The firm has a market capitalization of $19.63 billion, a P/E ratio of 18.77, a PEG ratio of 2.66 and a beta of 0.42.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.515 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.13%. CMS Energy’s dividend payout ratio is currently 58.86%.

Insiders Place Their Bets

In other CMS Energy news, CAO Scott B. Mcintosh sold 936 shares of CMS Energy stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 24,417 shares in the company, valued at $1,672,564.50. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 in the company, valued at $9,486,285.15. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,686 shares of company stock valued at $2,228,084 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On CMS Energy

Several large investors have recently made changes to their positions in CMS. First Horizon Advisors Inc. boosted its position in CMS Energy by 171.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 275 shares during the period. Brooklyn Investment Group acquired a new stake in CMS Energy in the third quarter valued at approximately $40,000. Covestor Ltd grew its position in CMS Energy by 206.1% in the third quarter. Covestor Ltd now owns 701 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 472 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of CMS Energy during the 3rd quarter worth $56,000. Finally, Voisard Asset Management Group Inc. raised its holdings in shares of CMS Energy by 25.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 798 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 93.57% 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.