CMS Energy (NYSE:CMS) Issues Earnings Results

CMS Energy (NYSE:CMS) posted its quarterly earnings data on Thursday. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06, Briefing.com reports. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CMS Energy had a return on equity of 12.25% and a net margin of 13.10%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS.

CMS Energy Price Performance

Shares of CMS Energy stock traded down $1.31 during midday trading on Friday, hitting $68.30. 2,807,363 shares of the company traded hands, compared to its average volume of 2,256,258. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.79 and a beta of 0.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.87 and a current ratio of 1.18. The firm’s fifty day moving average price is $69.78 and its 200-day moving average price is $64.54. CMS Energy has a 12 month low of $54.13 and a 12 month high of $72.40.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.515 dividend. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, November 13th. CMS Energy’s dividend payout ratio (DPR) is presently 63.19%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMS. Mizuho lowered shares of CMS Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $76.00 to $72.00 in a research report on Tuesday, October 15th. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. Barclays increased their price target on CMS Energy from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Bank of America lifted their price objective on CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, KeyCorp increased their target price on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, CMS Energy has an average rating of “Moderate Buy” and an average target price of $69.85.

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.