CMS Energy (NYSE:CMS) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

CMS Energy (NYSE:CMS) posted its earnings results on Thursday. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06, Briefing.com reports. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.88 billion. CMS Energy had a net margin of 13.10% and a return on equity of 12.25%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share.

CMS Energy Price Performance

Shares of CMS Energy stock traded down $1.31 on Friday, hitting $68.30. 2,807,363 shares of the company were exchanged, compared to its average volume of 2,256,258. CMS Energy has a 1-year low of $54.13 and a 1-year high of $72.40. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41. The company has a 50-day moving average price of $69.78 and a 200 day moving average price of $64.54.

CMS Energy Increases Dividend

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

Analyst Upgrades and Downgrades

CMS has been the topic of a number of recent research reports. KeyCorp upped their target price on CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Guggenheim upped their price objective on CMS Energy from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of CMS Energy from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets dropped their price target on shares of CMS Energy from $77.00 to $76.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley upped their price objective on shares of CMS Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently 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.