CMS
CMS Energy Corporation NYSE Listed May 1, 1987$73.38
+0.10%
vs $73.31
Mkt Cap $22.7B
52w Low $68.41
41.6% of range
52w High $80.36
50d MA $74.38
200d MA $73.59
P/E (TTM)
20.8x
EV/EBITDA
12.3x
P/B
2.3x
Debt/Equity
2.1x
ROE
11.7%
P/FCF
-13.9x
RSI (14)
53.10
ATR (14)
$1.50
Beta
0.42
50d MA
$74.38
200d MA
$73.59
Avg Volume
3.2M
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. Its distribution system comprises 208 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,428 miles of high-voltage distribution overhead lines; 19 miles of high-voltage distribution underground lines; 82,474 miles of electric distribution overhead lines; 9,395 miles of underground distribution lines; 1,093 substations; and 3 battery facilities. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,392 miles of transmission lines; 15 gas storage fields; 28,065 miles of distribution mains; and 8 compressor stations. The Enterprises segment is involved in the independent power production and marketing, including the development and operation of renewable generation. It 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.
One Energy Plaza · Jackson, MI 49201 · US
| Date | Time | Est | Rptd | Surp | Base | Gap% | D1% | D2% | D3% | D4% | D5% | Guide ▲★ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | TNS | 1.11 | 1.13 | +1.8% | 75.92 | -0.7% | -1.6% | +2.7% | -0.9% | -0.4% | -1.0% | — |
| Feb 5, 2026 | TNS | 0.93 | 0.95 | +1.8% | 72.86 | +0.9% | -0.0% | -0.0% | +1.3% | +1.0% | +0.3% | — |
| Oct 30, 2025 | TNS | 0.86 | 0.93 | +8.1% | 73.21 | -0.9% | +0.5% | -1.4% | +0.6% | -0.5% | -0.3% | — |
| Jul 31, 2025 | TNS | 0.68 | 0.71 | +4.4% | 73.80 | +0.5% | +0.4% | +0.8% | -0.7% | -0.1% | +0.6% | — |
| Apr 24, 2025 | TNS | 1.01 | 1.02 | +1.0% | 74.14 | +0.6% | -2.6% | +0.5% | +1.5% | +0.0% | -0.9% | — |
| Feb 6, 2025 | TNS | 0.87 | 0.87 | +0.0% | 68.33 | -0.5% | +0.5% | +0.7% | +0.4% | +0.1% | +0.4% | — |
| Oct 31, 2024 | TNS | 0.78 | 0.84 | +7.7% | 69.61 | +0.3% | -1.9% | +0.1% | +1.1% | -1.8% | -2.2% | — |
| Jul 25, 2024 | TNS | 0.63 | 0.66 | +4.8% | 63.21 | +0.4% | -0.4% | +1.1% | +2.3% | -0.5% | +2.4% | — |
| Apr 25, 2024 | TNS | 0.94 | 0.97 | +3.2% | 60.48 | +0.3% | -1.9% | +1.4% | +0.7% | +0.4% | +0.7% | — |
| Feb 1, 2024 | TNS | 1.05 | 1.05 | +0.0% | 58.84 | -0.2% | -1.8% | -2.1% | -0.2% | -0.1% | -0.2% | — |
| Oct 26, 2023 | TNS | 0.61 | 0.61 | +0.0% | 55.18 | -0.3% | -1.6% | -0.3% | +0.5% | +0.7% | +1.4% | — |
| Jul 27, 2023 | TNS | 0.70 | 0.75 | +7.1% | 61.60 | +1.0% | -0.9% | +0.1% | -1.0% | -0.2% | -3.2% | — |
| Date | Firm | Action | Grade | Target | Base | Open | Gap% | D1% | D2% | D3% | D4% | D5% |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 4 | Jefferies | Downgrade | Buy → Hold | $74 | $70.22 | $69.50 | -1.0% | +0.2% | +2.4% | -1.6% | +2.4% | +1.1% |
| Apr 29 | Barclays | Maintains | Overweight → Overweight | — | $75.92 | $75.38 | -0.7% | -1.6% | +2.7% | -0.9% | -0.4% | -1.0% |
| Apr 21 | BofA Securities | Maintains | Buy → Buy | — | $77.04 | $77.30 | +0.3% | -1.9% | -0.8% | +2.2% | -0.5% | -0.3% |
| Apr 21 | Truist | Initiates | Buy | $86 | $77.04 | $77.30 | +0.3% | -1.9% | -0.8% | +2.2% | -0.5% | -0.3% |
| Apr 17 | BMO Capital | Maintains | Outperform → Outperform | — | $78.11 | $77.52 | -0.8% | -0.5% | -0.9% | -1.9% | -0.8% | +2.2% |
| Apr 13 | BMO Capital | Maintains | Outperform → Outperform | — | $79.38 | $79.32 | -0.1% | -1.2% | +0.5% | -1.7% | +0.8% | -0.5% |
| Apr 8 | Barclays | Maintains | Overweight → Overweight | — | $78.59 | $78.05 | -0.7% | +0.3% | +1.4% | -0.7% | -1.2% | +0.5% |
| Mar 2 | KeyBanc Capital Markets | Maintains | Overweight → Overweight | — | $78.07 | $78.04 | -0.0% | +0.0% | -0.4% | +0.4% | -1.2% | -0.1% |
| Feb 23 | Barclays | Maintains | Overweight → Overweight | — | $75.86 | $76.22 | +0.5% | +0.6% | +0.6% | -0.2% | +0.6% | +1.3% |
| Feb 9 | BMO Capital | Maintains | Outperform → Outperform | — | $72.84 | $72.44 | -0.5% | -0.0% | +1.3% | +1.0% | +0.3% | +2.7% |
| Feb 6 | Mizuho | Maintains | Neutral → Neutral | — | $72.86 | $73.52 | +0.9% | -0.0% | -0.0% | +1.3% | +1.0% | +0.3% |
| Feb 2 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $71.49 | $71.98 | +0.7% | -1.3% | +1.8% | -0.3% | +1.8% | -0.0% |
| Jan 28 | Jefferies | Maintains | Buy → Buy | — | $72.04 | $72.02 | -0.0% | -0.3% | -1.3% | +0.8% | -1.3% | +1.8% |
| Jan 20 | Wells Fargo | Maintains | Equal Weight → Equal Weight | — | $71.68 | $71.38 | -0.4% | -0.5% | +0.5% | -1.0% | -0.4% | +1.2% |
| Jan 15 | Jefferies | Maintains | Buy → Buy | — | $70.92 | $71.10 | +0.3% | +0.5% | +0.6% | -0.5% | +0.5% | -1.0% |
| Jan 15 | JP Morgan | Maintains | Overweight → Overweight | — | $70.92 | $71.10 | +0.3% | +0.5% | +0.6% | -0.5% | +0.5% | -1.0% |
| Jan 15 | Barclays | Maintains | Overweight → Overweight | — | $70.92 | $71.10 | +0.3% | +0.5% | +0.6% | -0.5% | +0.5% | -1.0% |
| Dec 17 | UBS | Maintains | Neutral → Neutral | — | $69.91 | $69.89 | -0.0% | +0.5% | +0.5% | -2.0% | +0.9% | +0.4% |
| Dec 11 | JP Morgan | Maintains | Overweight → Overweight | — | $70.01 | $69.96 | -0.1% | -0.4% | +0.1% | +1.3% | -1.2% | +0.5% |
| Oct 22 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $74.54 | $74.81 | +0.4% | +0.8% | -0.8% | +0.3% | -0.2% | -1.5% |
| Oct 21 | Barclays | Maintains | Overweight → Overweight | — | $75.09 | $75.37 | +0.4% | -0.7% | +0.8% | -0.8% | +0.3% | -0.2% |
| Oct 15 | KeyBanc Capital Markets | Maintains | Overweight → Overweight | — | $74.35 | $74.28 | -0.1% | +1.3% | -0.7% | +0.0% | +0.4% | -0.7% |
| Sep 30 | Jefferies | Maintains | Buy → Buy | — | $72.77 | $73.00 | +0.3% | +0.7% | -1.2% | -0.7% | +0.7% | +1.2% |
| Sep 25 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $71.66 | $71.94 | +0.4% | -0.9% | +1.2% | +1.3% | +0.7% | -1.2% |
| Jul 22 | Barclays | Maintains | Overweight → Overweight | — | $72.25 | $72.53 | +0.4% | +1.8% | -0.9% | +0.0% | -0.2% | -2.0% |
| Jul 7 | Wolfe Research | Downgrade | Outperform → Peer Perform | — | $70.47 | $69.97 | -0.7% | -1.2% | -0.4% | +0.6% | +1.1% | -0.3% |
| May 22 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $70.76 | $70.52 | -0.3% | -2.0% | +0.4% | +0.2% | -1.5% | +1.1% |
| Apr 29 | BMO Capital | Maintains | Outperform → Outperform | — | $72.51 | $72.35 | -0.2% | +1.5% | +0.0% | -0.9% | -0.1% | +0.2% |
| Apr 28 | Evercore ISI | Maintains | In Line → In Line | — | $72.18 | $72.24 | +0.1% | +0.5% | +1.5% | +0.0% | -0.9% | -0.1% |
| Apr 25 | Scotiabank | Maintains | Sector Outperform → Sector Outperform | — | $74.14 | $74.61 | +0.6% | -2.6% | +0.5% | +1.5% | +0.0% | -0.9% |
| Apr 25 | Wells Fargo | Maintains | Overweight → Overweight | — | $74.14 | $74.61 | +0.6% | -2.6% | +0.5% | +1.5% | +0.0% | -0.9% |
| Apr 23 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $73.70 | $73.72 | +0.0% | -0.3% | +0.9% | -2.6% | +0.5% | +1.5% |
| Apr 21 | Jefferies | Maintains | Buy → Buy | — | $72.91 | $72.74 | -0.2% | -1.1% | +2.2% | -0.3% | +0.9% | -2.6% |
| Apr 14 | BMO Capital | Maintains | Outperform → Outperform | — | $71.82 | $72.00 | +0.3% | +2.4% | -1.1% | -0.7% | +1.0% | -1.1% |
| Mar 24 | BofA Securities | Maintains | Buy → Buy | — | $73.50 | $73.45 | -0.1% | -0.5% | -1.5% | +1.8% | -0.2% | +1.4% |
| Mar 24 | BMO Capital | Maintains | Outperform → Outperform | — | $73.50 | $73.45 | -0.1% | -0.5% | -1.5% | +1.8% | -0.2% | +1.4% |
| Mar 21 | UBS | Maintains | Neutral → Neutral | — | $73.69 | $73.85 | +0.2% | -0.3% | -0.5% | -1.5% | +1.8% | -0.2% |
| Mar 20 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $73.71 | $73.86 | +0.2% | -0.0% | -0.3% | -0.5% | -1.5% | +1.8% |
| Feb 20 | Barclays | Upgrade | Equal Weight → Overweight | — | $70.15 | $70.50 | +0.5% | +0.8% | +1.1% | +0.9% | +1.3% | +0.2% |
| Feb 7 | Guggenheim | Maintains | Neutral → Neutral | — | $68.33 | $68.01 | -0.5% | +0.5% | +0.7% | +0.4% | +0.1% | +0.4% |
| Jan 23 | Guggenheim | Downgrade | Buy → Neutral | — | $66.60 | $66.53 | -0.1% | -1.1% | -0.1% | +2.0% | -2.3% | +0.2% |
| Dec 12 | Scotiabank | Maintains | Sector Outperform → Sector Outperform | — | $66.82 | $67.20 | +0.6% | +0.3% | +0.4% | -0.9% | +0.5% | -1.8% |
| Nov 22 | Morgan Stanley | Maintains | Equal Weight → Equal Weight | — | $69.21 | $69.36 | +0.2% | +0.4% | +0.2% | +1.1% | +0.1% | -1.1% |
| Nov 1 | BMO Capital | Maintains | Outperform → Outperform | — | $69.61 | $69.81 | +0.3% | -1.9% | +0.1% | +1.1% | -1.8% | -2.2% |
| Oct 16 | Wells Fargo | Maintains | Overweight → Overweight | — | $70.30 | $70.35 | +0.1% | +1.2% | -0.2% | +0.4% | -0.2% | -0.2% |
| Oct 15 | Mizuho | Downgrade | Outperform → Neutral | — | $69.87 | $70.49 | +0.9% | +0.6% | +1.2% | -0.2% | +0.4% | -0.2% |
| Oct 15 | Barclays | Maintains | Equal Weight → Equal Weight | — | $69.87 | $70.49 | +0.9% | +0.6% | +1.2% | -0.2% | +0.4% | -0.2% |
| Oct 1 | Mizuho | Maintains | Outperform → Outperform | — | $70.63 | $70.59 | -0.1% | +0.6% | +0.3% | -0.2% | +0.1% | -2.0% |
| Sep 30 | BMO Capital | Maintains | Outperform → Outperform | — | $70.43 | $70.81 | +0.5% | +0.3% | +0.6% | +0.3% | -0.2% | +0.1% |
| Sep 30 | KeyBanc Capital Markets | Maintains | Overweight → Overweight | — | $70.43 | $70.81 | +0.5% | +0.3% | +0.6% | +0.3% | -0.2% | +0.1% |
| Date | Insider | Title | Type | Shares | Price | Value | Owned After | D1% | D5% |
|---|---|---|---|---|---|---|---|---|---|
| May 26, 2026 | Hofmeister Brandon J.Off | Senior Vice President | Sell | 3,000 | $74.31 | $223K | 67,111 | -1.41% | -2.27% |
8-K · 5.02
!!! Very High
CMS Energy Corporation -- 8-K 5.02: Executive Change
Jun 3
8-K
CMS Energy Corporation -- 8-K Filing
May 13
8-K
CMS Energy Corporation -- 8-K Filing
CMS Energy adjusted its earnings metrics to exclude one-time items including voluntary separation costs and mark-to-market adjustments, signaling management's focus on underlying operational performance.
Apr 28
8-K
CMS Energy Corporation -- 8-K Filing
CMS Energy appointed executives with strong operational backgrounds: Leopold, former Dominion COO, and Keyes, Meijer's CEO, to enhance leadership capabilities.
Feb 20
8-K
CMS Energy Corporation -- 8-K Filing
CMS Energy entered into a forward sale agreement with multiple investment banks as agents, enabling the company to raise capital through a structured equity offering mechanism.
Feb 11
8-K
CMS Energy Corporation -- 8-K Filing
CMS Energy is adjusting its reported earnings to exclude voluntary separation costs, tax policy changes, and NorthStar Clean Energy's mark-to-market adjustments to present a cleaner view of operating performance.
Feb 5
Institutional (13F) — Top 20
All ↗
| # | Manager | Shares | Value | Chg | Period |
|---|---|---|---|---|---|
| 1 | Vanguard Capital Management Llc | 19,877,297 | $1.5B | New | Mar 2026 |
| 2 | Vanguard Portfolio Management Llc | 18,793,345 | $1.5B | New | Mar 2026 |
| 3 | Jpmorgan Chase & Co | 15,839,684 | $1.2B | Reduced | Mar 2026 |
| 4 | Morgan Stanley | 9,225,964 | $645M | Reduced | Dec 2025 |
| 5 | Invesco Ltd. | 7,645,197 | $593M | Added | Mar 2026 |
| 6 | Victory Capital Management Inc | 6,839,262 | $531M | Reduced | Mar 2026 |
| 7 | Wells Fargo & Company/mn | 5,422,074 | $421M | New | Mar 2026 |
| 8 | Gqg Partners Llc | 4,412,573 | $342M | Reduced | Mar 2026 |
| 9 | Dz Bank Ag Deutsche Zentral Genossenschafts Bank, Frankfurt Am Main | 4,733,320 | $334M | Added | Sep 2024 |
| 10 | Bank Of America Corp /de/ | 3,668,532 | $285M | Added | Mar 2026 |
| 11 | Lord, Abbett & Co. Llc | 3,308,716 | $257M | Reduced | Mar 2026 |
| 12 | Pictet Asset Management Holding Sa | 3,571,251 | $250M | Added | Dec 2025 |
| 13 | Barclays Plc | 2,995,363 | $232M | Added | Mar 2026 |
| 14 | Northern Trust Corp | 2,725,167 | $211M | Reduced | Mar 2026 |
| 15 | Bank Of New York Mellon Corp | 2,534,689 | $197M | Reduced | Mar 2026 |
| 16 | Magellan Asset Management Ltd | 2,019,954 | $157M | Added | Mar 2026 |
| 17 | Parnassus Investments, Llc | 1,953,213 | $152M | Added | Mar 2026 |
| 18 | Ubs Group Ag | 1,886,071 | $146M | Added | Mar 2026 |
| 19 | Franklin Resources Inc | 1,759,778 | $137M | Reduced | Mar 2026 |
| 20 | Amundi | 1,577,783 | $122M | New | Mar 2026 |
Mutual Funds / ETFs (N-PORT) — Top 20
All ↗
| # | Fund | Shares | Value | Period |
|---|---|---|---|---|
| 1 | iShares Core S&P 500 ETF | 3,941,353 | $306M | Mar 2026 |
| 2 | Fidelity 500 Index Fund | 3,872,883 | $302M | Feb 2026 |
| 3 | Columbia Dividend Income Fund | 2,517,212 | $197M | Feb 2026 |
| 4 | iShares Select Dividend ETF | 2,612,455 | $187M | Jan 2026 |
| 5 | Invesco S&P 500 Equal Weight ETF | 2,277,268 | $163M | Jan 2026 |
| 6 | PGIM Jennison Utility Fund | 1,558,444 | $122M | Feb 2026 |
| 7 | VANGUARD DIVIDEND APPRECIATION INDEX FUND | 1,671,182 | $119M | Jan 2026 |
| 8 | Invesco S&P 500 Low Volatility ETF | 1,333,141 | $104M | Feb 2026 |
| 9 | Reaves Utility Income Fund | 1,446,361 | $103M | Jan 2026 |
| 10 | DNP Select Income Fund Inc | 1,334,167 | $95M | Jan 2026 |
| 11 | iShares Russell Mid-Cap ETF | 1,154,894 | $90M | Mar 2026 |
| 12 | Invesco Diversified Dividend Fund | 1,231,519 | $88M | Jan 2026 |
| 13 | VANGUARD HIGH DIVIDEND YIELD INDEX FUND | 1,217,977 | $87M | Jan 2026 |
| 14 | Parnassus Mid Cap Fund | 1,001,158 | $78M | Mar 2026 |
| 15 | Parnassus Value Equity Fund | 952,055 | $74M | Mar 2026 |
| 16 | Lord Abbett Dividend Growth Fund | 893,490 | $70M | Feb 2026 |
| 17 | JPMorgan U.S. Value Fund | 812,846 | $63M | Mar 2026 |
| 18 | ELFUN TRUSTS | 796,536 | $62M | Mar 2026 |
| 19 | Virtus Reaves Utilities ETF | 793,952 | $57M | Jan 2026 |
| 20 | iShares Core Dividend Growth ETF | 765,950 | $55M | Jan 2026 |
Valuation
Market Cap
$22.67B
Enterprise Value
$39.27B
P/E (TTM)
20.79x
Forward P/E
18.89x
PEG Ratio
3.45x
P/B
2.27x
P/S
2.58x
P/FCF
-13.88x
EV/EBITDA
12.32x
Shares Out
300.6M
Financials (TTM)
Revenue
$8.54B
Net Income
$1.07B
EBITDA
$3.19B
Free Cash Flow
-$1.59B
Op Cash Flow
$2.23B
EPS Basic
$3.53
EPS Diluted
$3.53
EPS Forward
$3.88
Gross Margin
60.9%
Op Margin
20.2%
Net Margin
12.5%
Balance Sheet
Total Assets
$40.39B
Total Liab.
$30.68B
Total Equity
$9.71B
Cash
$615.0M
LT Debt
$17.83B
Book Value/Sh
$32.31
Debt/Equity
2.07x
Current Ratio
0.98
Quick Ratio
0.76
Returns & Growth
ROE
11.7%
ROA
2.8%
ROIC
3.7%
Rev Growth YoY
+13.6%
EPS Growth YoY
+5.7%
Price Returns
2W
-0.9%
1M
-5.4%
3M
-7.0%
6M
-3.8%
12M
+3.3%
Technicals
52W High
$80.36
52W Low
$68.41
50d MA
$74.38
200d MA
$73.59
RSI (14)
53.10
ATR (14)
$1.50
Beta
0.42
Avg Volume
3.2M
Dividends
Div Rate
$2.21
Div Yield
2.9%
Frequency
4
Ex-Div Date
May 8, 2026
Analyst Price Targets
Consensus
$81.00
High
$85.00
Low
$79.00
Median
$80.00
Data updated apr 25, 2026 2:04am
· Source: financialmodelingprep.com