FY2024 Earnings Forecast for CMS Energy Co. (NYSE:CMS) Issued By Seaport Res Ptn

CMS Energy Co. (NYSE:CMS) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings estimates for shares of CMS Energy in a research report issued to clients and investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $3.31 per share for the year, down from their previous 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 $3.32 per share.

CMS Energy (NYSE:CMS) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.32 billion. CMS Energy had a net margin of 13.19% and a return on equity of 12.83%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS.

A number of other equities analysts have also recently issued reports on the stock. UBS Group cut shares of CMS Energy from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Thursday, April 4th. Royal Bank of Canada dropped their price objective on shares of CMS Energy from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Wolfe Research upgraded shares of CMS Energy from a “peer perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Tuesday, January 16th. Barclays dropped their price objective on shares of CMS Energy from $58.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Finally, Guggenheim upgraded shares of CMS Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $64.00 in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.33.

CMS Energy Trading Down 1.9 %

Shares of CMS stock opened at $59.34 on Friday. CMS Energy has a 52-week low of $49.87 and a 52-week high of $63.76. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.35 and a beta of 0.38. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.66 and a current ratio of 2.03. The firm has a fifty day moving average of $58.76 and a 200-day moving average of $57.45.

Institutional Investors Weigh In On CMS Energy

Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its stake in shares of CMS Energy by 4.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 10,379 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 449 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of CMS Energy in the 3rd quarter valued at about $269,000. Czech National Bank boosted its stake in shares of CMS Energy by 47.7% in the 3rd quarter. Czech National Bank now owns 50,987 shares of the utilities provider’s stock valued at $2,708,000 after purchasing an additional 16,461 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in shares of CMS Energy by 68.8% in the 3rd quarter. Spirit of America Management Corp NY now owns 8,100 shares of the utilities provider’s stock valued at $430,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of CMS Energy by 11.2% in the 3rd quarter. Ballentine Partners LLC now owns 4,450 shares of the utilities provider’s stock valued at $236,000 after purchasing an additional 448 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

Insiders Place Their Bets

In other CMS Energy news, SVP Brandon J. Hofmeister sold 3,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $57.78, for a total transaction of $202,230.00. Following the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

CMS Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 14th. CMS Energy’s dividend payout ratio is currently 62.80%.

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.