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CMS Energy Corp

CMS Energy Corp

CMS
$67.15USD↓-0.78%-0.53 today

MARKET CAP

21.1B

P/E (TTM)

18.5x

FWD P/E

—

DAY RANGE

$67 – $68

52W RANGE

$67
$80

AI Summary

Stalk
TrimMedium

CMS remains in a Stage 4 downtrend with a bearish medium- and long-term bias evident through EMA alignment and lower highs & lower lows. Price is trading near 52-week lows and extreme oversold conditions, offering no clear sell execution now. Execution should be deferred—look for rallies into the 9-/20-EMA resistance zone (~68.90–68.11) for sell-side interaction. A decisive reclaim and acceptance above broken support and the 20-day EMA would invalidate this bearish stance.

  • ↑Q4 EPS $3.61 (+8% YoY) surpasses guidance; 2026 EPS outlook $3.83–$3.90
  • ↑$24 B capital plan through 2030 aiming for 10.5% rate base expansion
  • ↓Negative growth metrics signal potential revenue stagnation
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

CMS Energy Corporation (NYSE: CMS) is a leading utility provider in Michigan, primarily operating through its subsidiary Consumers Energy. The company focuses on generating, transmitting, and distributing electricity and natural gas while shifting towards cleaner energy solutions. With a significant emphasis on renewable energy investments and infrastructure expansion, CMS Energy aims to meet the growing energy demands of residential and industrial customers while maintaining affordability.

Bull says

  • ↑Q4 EPS $3.61 (+8% YoY) surpasses guidance; 2026 EPS outlook $3.83–$3.90
  • ↑$24 B capital plan through 2030 aiming for 10.5% rate base expansion
  • ↑Regulators grant a 9.9% ROE, supporting ongoing capex returns
  • ↑Data-center pipeline adds ~1 GW load; 110 MW contracts inked for 2026
  • ↑Exit from Northstar Clean Energy sharpens focus on regulated utility
  • ↑High earnings yield, attractive dividend yield and low stock volatility

Bear says

  • ↓Negative growth metrics signal potential revenue stagnation
  • ↓Weak profitability and recent analyst downgrades dent earnings outlook
  • ↓High leverage may magnify costs if interest rates rise further
  • ↓Large $24 B capex plan risks delayed rate recovery and cash strains
  • ↓Transition risks from Northstar exit could weigh on near-term results
  • ↓Sensitivity to interest rates and high debt amplify financial risk

Investment themes with CMS

High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-16-2026bullish

Transcript signals

Bull points

  • In summary, through the first half of 2025, we delivered adjusted net income of $518 million, or $1.73 per share, which compares favorably to the same period in 2024, largely due to the absence of unfavorable weather from the prior year and continued constructive regulatory outcomes.
  • favorable weather in the second quarter, largely in the month of June, coupled with a relatively normal winter in Q1, provided an aggregate benefit of $0.32 per share of positive variance.
  • From a regulatory perspective, we're assuming $0.18 per share of positive variance, which is largely driven by the aforementioned electric rate order received from the commission earlier this year and the expectation of a constructive outcome in our pending gas rate case.

Bear points

  • $0.04 per share of negative variance versus a comparable period in 2024, due in large part to increased vegetation management in accordance with our electric reliability roadmap.
  • Rounding out the first six months of the year, you'll note a negative variance of $0.27 per share highlighted in the catch-all bucket in the middle of the chart. The primary drivers of the negative variance were related to the planned outage of our Dearborn Industrial Facility, which I'm pleased to report is fully operational and expected to deliver normalized earnings for the remainder of the year.
Read full transcript analysis ›