KeyCorp Has Negative Forecast for CMS Energy Q4 Earnings

CMS Energy Co. (NYSE:CMS) – KeyCorp cut their Q4 2024 earnings estimates for shares of CMS Energy in a research note issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $0.84 per share for the quarter, down from their previous forecast 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.

A number of other research firms have also recently issued reports on CMS. Scotiabank lifted their price target on shares of CMS Energy from $66.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com cut shares of CMS Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Bank of America raised their price target on shares of CMS Energy from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on CMS Energy in a research report on Tuesday, November 5th. They issued a “buy” rating and a $76.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.21.

CMS Energy Stock Down 0.3 %

Shares of CMS opened at $67.18 on Thursday. The firm has a market cap of $20.07 billion, a P/E ratio of 19.19, a PEG ratio of 2.72 and a beta of 0.41. CMS Energy has a 12 month low of $55.10 and a 12 month high of $72.40. The stock’s 50 day moving average is $69.57 and its two-hundred day moving average is $65.87. 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 (NYSE:CMS) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis.

CMS Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 represents a $2.06 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s dividend payout ratio (DPR) is currently 58.86%.

Insider Activity

In related news, CAO Scott B. Mcintosh sold 936 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $68.50, for a total transaction of $64,116.00. Following the transaction, the chief accounting officer now owns 24,417 shares of the company’s stock, valued at approximately $1,672,564.50. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon J. Hofmeister sold 2,000 shares of the 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMS. Massachusetts Financial Services Co. MA increased its stake in CMS Energy by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,610,120 shares of the utilities provider’s stock valued at $537,503,000 after purchasing an additional 719,093 shares during the last quarter. Geode Capital Management LLC grew its stake in CMS Energy by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,509,770 shares of the utilities provider’s stock worth $528,713,000 after buying an additional 105,062 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of CMS Energy by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,155,842 shares of the utilities provider’s stock worth $152,267,000 after acquiring an additional 18,403 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CMS Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,822,389 shares of the utilities provider’s stock valued at $128,715,000 after acquiring an additional 25,196 shares during the period. Finally, iA Global Asset Management Inc. raised its position in CMS Energy by 105.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 1,555,898 shares of the utilities provider’s stock valued at $92,623,000 after purchasing an additional 800,344 shares during the last quarter. Institutional investors and hedge funds own 93.57% of the company’s stock.

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.