Seaport Res Ptn Weighs in on CMS Energy Co.’s FY2024 Earnings (NYSE:CMS)

CMS Energy Co. (NYSE:CMS) – Analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for CMS Energy in a research note issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings per share of $3.31 for the year, down from their prior forecast of $3.34. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share.

Several other equities research analysts have also commented on CMS. Scotiabank dropped their price target on shares of CMS Energy from $67.00 to $66.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada cut their target price on CMS Energy from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. UBS Group cut CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Thursday, April 4th. KeyCorp raised their price target on CMS Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CMS Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

CMS Energy Trading Down 1.9 %

Shares of NYSE:CMS opened at $59.35 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 1.84. The company’s 50-day moving average price is $58.76 and its 200 day moving average price is $57.42. The company has a market cap of $17.72 billion, a PE ratio of 19.72, a P/E/G ratio of 2.34 and a beta of 0.38. CMS Energy has a fifty-two week low of $49.87 and a fifty-two week high of $63.76.

CMS Energy (NYSE:CMS) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. CMS Energy had a return on equity of 12.09% and a net margin of 11.89%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis.

Institutional Trading of CMS Energy

Hedge funds have recently modified their holdings of the business. Strategy Asset Managers LLC increased its holdings in shares of CMS Energy by 9.5% in the 1st quarter. Strategy Asset Managers LLC now owns 4,445 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 387 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CMS Energy by 1.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,952 shares of the utilities provider’s stock valued at $3,618,000 after purchasing an additional 581 shares in the last quarter. Simplicity Wealth LLC acquired a new position in CMS Energy in the 1st quarter valued at approximately $594,000. Spire Wealth Management lifted its position in CMS Energy by 32.6% in the 1st quarter. Spire Wealth Management now owns 2,678 shares of the utilities provider’s stock worth $162,000 after buying an additional 658 shares in the last quarter. Finally, Aquila Investment Management LLC boosted its stake in shares of CMS Energy by 200.0% during the 1st quarter. Aquila Investment Management LLC now owns 30,000 shares of the utilities provider’s stock valued at $1,810,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 93.57% of the company’s stock.

Insider Transactions at CMS Energy

In related news, SVP Brandon J. Hofmeister sold 3,500 shares of CMS Energy stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $57.78, for a total value of $202,230.00. Following the transaction, the senior vice president now owns 68,971 shares of the company’s stock, valued at approximately $3,985,144.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by insiders.

CMS Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Tuesday, May 14th. CMS Energy’s payout ratio is 68.44%.

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.