KeyCorp Issues Pessimistic Forecast for CMS Energy Earnings

CMS Energy Co. (NYSE:CMS) – Research analysts at KeyCorp dropped their Q4 2024 earnings estimates for shares of CMS Energy in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $0.84 per share for the quarter, down from their prior estimate of $0.88. KeyCorp currently has a “Overweight” rating and a $76.00 target price on the stock. The consensus estimate for CMS Energy’s current full-year earnings is $3.33 per share.

CMS has been the subject of a number of other research reports. BMO Capital Markets decreased their price target on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of CMS Energy in a report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price objective on the stock. Bank of America lifted their price objective on shares of CMS Energy from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank lifted their price objective on shares of CMS Energy from $66.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Mizuho downgraded shares of CMS Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $76.00 to $72.00 in a report on Tuesday, October 15th. 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. According to MarketBeat.com, CMS Energy has an average rating of “Moderate Buy” and an average target price of $70.21.

CMS Energy Stock Performance

Shares of CMS stock opened at $67.50 on Thursday. The firm has a market capitalization of $20.17 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.72 and a beta of 0.41. The firm has a fifty day simple moving average of $69.62 and a two-hundred day simple moving average of $65.86. 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 12 month low of $55.10 and a 12 month high of $72.40.

CMS Energy (NYSE:CMS) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. CMS Energy’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMS. First Horizon Advisors Inc. increased its position in shares of CMS Energy by 171.9% in the third quarter. First Horizon Advisors Inc. now owns 435 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 275 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of CMS Energy in the third quarter worth approximately $40,000. TruNorth Capital Management LLC increased its position in shares of CMS Energy by 431.3% in the second quarter. TruNorth Capital Management LLC now owns 712 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 578 shares during the last quarter. Innealta Capital LLC bought a new position in shares of CMS Energy in the second quarter worth approximately $43,000. Finally, Covestor Ltd increased its position in shares of 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 purchasing an additional 472 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CMS Energy

In other news, SVP Brandon J. Hofmeister sold 2,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $68.17, for a total transaction of $136,340.00. Following the sale, the senior vice president now directly owns 64,771 shares in the company, valued at $4,415,439.07. This represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Scott B. Mcintosh sold 936 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $68.50, for a total value of $64,116.00. Following the sale, the chief accounting officer now owns 24,417 shares in the company, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

CMS Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 3.05%. CMS Energy’s dividend payout ratio is 58.86%.

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.