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CMS Energy Corporation (CMS)

70.51 +0.49 (+0.70%)
At close: August 13 at 4:00:02 PM EDT
71.15 +0.64 (+0.91%)
After hours: August 13 at 7:55:47 PM EDT
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News headlines CMS Energy has announced a strategic exit from non-utility renewable development, reallocating $1.70 billiontowards regulated utility operations. This shift aims to simplify its business model and bolster future earnings, despite recent weaker quarterly results.

CMS Energy has announced a strategic exit from non-utility renewable development, reallocating $1.70 billiontowards regulated utility operations. This shift aims to simplify its business model and bolster future earnings, despite recent weaker quarterly results.

Updated 37m ago · Powered by Yahoo Scout
  • Previous Close 70.02
  • Open 70.22
  • Bid --
  • Ask --
  • Day's Range 70.09 - 70.74
  • 52 Week Range 68.64 - 80.36
  • Volume 2,858,820
  • Avg. Volume 3,577,679
  • Market Cap (intraday) 21.782B
  • Beta (5Y Monthly) 0.34
  • PE Ratio (TTM) 21.05
  • EPS (TTM) 3.35
  • Earnings Date Oct 29, 2026
  • Forward Dividend & Yield 2.28 (3.26%)
  • Ex-Dividend Date Aug 7, 2026
  • 1y Target Est 80.31

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

www.cmsenergy.com

8,350

Full Time Employees

December 31

Fiscal Year Ends

Utilities

Sector

Performance Overview

Trailing total returns as of 8/13/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

CMS
3.20%
S&P 500 (^GSPC)
13.93%

1-Year Return

CMS
1.02%
S&P 500 (^GSPC)
20.60%

3-Year Return

CMS
34.26%
S&P 500 (^GSPC)
74.71%

5-Year Return

CMS
29.77%
S&P 500 (^GSPC)
74.55%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q2 FY26
Revenue 1.83B
Earnings 120M

Q3

FY25

Q4

FY25

Q1

FY26

Q2

FY26

0
500M
1B
2B
2B
3B

Analyst Insights

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Top Analyst

Jefferies
58/100
Latest Rating
Hold

Analyst Price Targets

68.00
80.31 Average
70.51 Current
87.00 High

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell

Latest Rating

Date 8/4/2026
Analyst Truist Securities
Rating Action Maintains
Rating Buy
Price Action Lowers
Price Target 85 -> 81

Statistics

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Valuation Measures

Annual
As of 8/10/2026
  • Market Cap

    21.66B

  • Enterprise Value

    40.94B

  • Trailing P/E

    20.77

  • Forward P/E

    17.86

  • PEG Ratio (5yr expected)

    2.67

  • Price/Sales (ttm)

    2.40

  • Price/Book (mrq)

    2.27

  • Enterprise Value/Revenue

    4.65

  • Enterprise Value/EBITDA

    12.40

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    11.64%

  • Return on Assets (ttm)

    2.97%

  • Return on Equity (ttm)

    9.16%

  • Revenue (ttm)

    8.81B

  • Net Income Avi to Common (ttm)

    1.02B

  • Diluted EPS (ttm)

    3.35

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    241M

  • Total Debt/Equity (mrq)

    185.60%

  • Levered Free Cash Flow (ttm)

    -2.2B

Compare

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Company Insights

Fair Value

70.51 Current

Dividend Score

0 Low
Sector Avg.
100 High

Hiring Score

0 Low
Sector Avg.
100 High

Insider Sentiment Score

0 Low
Sector Avg.
100 High

Research Reports

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  • CMS Energy Earnings: Northstar Strategic Pivot Increases Focus on Utility Growth

    CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. NorthStar Clean Energy plans to retain its contracted Michigan-based fossil-fuel and renewable energy power generation assets following its strategic review in 2026. CMS sold EnerBank in October 2021.

    Rating
    Price Target
  • CMS Energy Earnings: Northstar Strategic Pivot Increases Focus on Utility Growth

    CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.9 million customers in Michigan. NorthStar Clean Energy plans to retain its contracted Michigan-based fossil-fuel and renewable energy power generation assets following its strategic review in 2026. CMS sold EnerBank in October 2021.

    Rating
    Price Target
  • Solid earnings growth forecast for 2026 and 2027

    CMS is an energy company based in Michigan, primarily focused on electric and gas operations within the state. The company has electricity generation, transmission, and distribution operations. Natural gas operations include transmission, distribution, compression, and underground storage operations. Its principal business is Consumers Energy Company, a state and federally regulated utility that provides electricity and natural gas to 1.8 million customers in Michigan. Consumers has about 8.6 GW of generating capacity with about 90 MW of biomass generation. NorthStar Clean Energy is a vertically integrated, unregulated company that provides energy marketing for non-utility operations and owns and operates independent power generating plants, and natural gas infrastructure. NorthStar has about 1.6 GW of generating capacity and a presence in AK, OH, MI, NC, TX, and WI. CMS's fuel mix is about 35% coal, 57% natural gas, 8% renewable, and 2% hydropower and the company hopes to have 40% of its generation from renewable sources by 2030. Total revenues in 2025 were $8.5 billion, of which $8.1 billion were from Consumers Energy. By energy segment, 66% of total revenues were from electric utility operations, 29% were gas utility operations, and the remainder was from NorthStar. The market cap is about $23.3 billion.

    Rating
    Price Target
  • Stocks turned in a mixed performance on Thursday, as Broadcom led the Nasdaq

    Stocks turned in a mixed performance on Thursday, as Broadcom led the Nasdaq lower, the S&P 500 and Dow Jones Industrials were higher, and now all of Wall Street has (maybe) moved on and is awaiting the latest jobs data.

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