Welcome to our dedicated page for CMS Energy Corporation news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS Energy Corporation stock.
CMS Energy Corporation (NYSE: CMS) is a diversified energy holding company with a primary focus on providing essential services in Michigan. The company's operations are segmented into three principal businesses: Consumers Energy, CMS Enterprises, and independent power generation.
Consumers Energy is the regulated utility arm of CMS Energy, supplying natural gas to approximately 1.8 million customers and electric service to around 1.9 million customers across Michigan. This subsidiary is pivotal in maintaining energy reliability and supporting the state's economic growth, especially through its robust infrastructure and customer service models.
CMS Enterprises manages the company's involvement in wholesale power generation, with an increasing emphasis on renewable energy projects. This division is essential for CMS Energy's strategic shift towards clean energy solutions. Recent initiatives include the development of solar power plants and the company's commitment to add 8,000 megawatts of solar energy by 2040.
CMS Energy's financial health reflects steady growth and strong investor confidence. In 2023, the company reported earnings per share (EPS) of $3.01, up from $2.85 in 2022, with adjusted EPS at $3.11. The annual dividend was increased by 11 cents per share to $2.06 for 2024. Moreover, CMS Energy has raised its 2024 adjusted earnings guidance to a range of $3.29 to $3.35 per share.
Significant recent developments include the sale of the Appliance Service Plan (ASP) business to Oncourse Home Solutions, a strategic move to streamline operations and focus on core energy services. This transaction is expected to close in the first half of 2024 and is poised to enhance the growth prospects of both companies involved.
Additionally, CMS Energy has been active in community engagement through initiatives like the Put Your Town on the Map Competition, which offers grants to support projects in small Michigan communities. Consumers Energy Foundation, the charitable arm of Consumers Energy, has been instrumental in these efforts, contributing over $11 million to Michigan nonprofits in 2023 alone.
CMS Energy's commitment to sustainability and clean energy is further demonstrated by its agreements with major corporations like Walmart to power their facilities with renewable energy. This partnership reflects the company's role in driving Michigan's clean energy future while adding significant new capacity to the grid.
Investors can stay informed about the company's performance and strategic outlook through regular webcasts and updates available on CMS Energy's website.
For more information on CMS Energy, visit www.cmsenergy.com.
Consumers Energy is urging Michigan residents to be vigilant against utility scams, particularly during the holiday season and Utility Scam Awareness Day. The company's VP of IT and security, Jim Beechey, emphasized the importance of protecting customers from fraud across various channels. The warning comes after an incident where criminals posing as utility workers committed a homicide in Rochester Hills. Consumers Energy, serving 6.8 million Michigan residents, provided several safety tips including: verifying employee identification badges, calling their security command center to confirm worker identity, and being aware that legitimate employees don't demand immediate payment or threaten immediate shut-offs.
CMS Energy has announced a quarterly dividend declaration for its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The company will pay $0.2625 per depositary share on January 15, 2025, to shareholders recorded as of January 1, 2025. The dividend applies to the NYSE: CMS PRC shares. CMS Energy, listed on NYSE as CMS, operates primarily through its Consumers Energy business and maintains independent power generation operations in Michigan.
Consumers Energy, CMS Energy's principal subsidiary, has announced a quarterly dividend declaration on its preferred stock. The Board of Directors has set a dividend of $1.125 per share on the $4.50 preferred stock (NYSE: CMS_pb), payable on January 1, 2025. Shareholders of record as of December 2, 2024, will be eligible for this dividend payment. Tax information regarding dividend distributions is available through the Tax Information section of CMS Energy's website. CMS Energy operates as a Michigan-based energy provider with Consumers Energy as its main business and maintains independent power generation operations.
Consumers Energy has completed the Mid-Michigan Pipeline project, replacing 55 miles of natural gas transmission pipeline across five counties. The $1.5 billion investment modernizes the company's natural gas system by upgrading 20-inch pipeline from the 1940s to 36-inch pipeline. The project, completed before winter, spans Clinton, Shiawassee, Ingham, Livingston and Washtenaw counties. This follows the completion of the Saginaw Trail Pipeline in 2020 and South Oakland Macomb Network in 2022. The company implemented environmental protection measures during construction, including turtle rescue and wildflower planting along the pipeline route.
CMS Energy reported Q3 2024 earnings per share of $0.84, up from $0.60 in Q3 2023. For the first nine months of 2024, earnings were $2.45 per share versus $1.96 in 2023. The company reaffirmed its 2024 adjusted earnings guidance of $3.29 to $3.35 per share and introduced 2025 guidance of $3.52 to $3.58 per share. Growth was attributed to regulatory outcomes and NorthStar Clean Energy performance. The company maintains its long-term adjusted EPS growth target of 6 to 8 percent, with confidence toward the higher end.
Consumers Energy has implemented infrared camera technology across its electric grid, resulting in a significant reduction in power outages. The cameras, used to inspect nearly 1,100 electric substations throughout Michigan, helped avoid 19.9 million minutes of customer outages last year, reducing average outage time by 10 minutes per customer. This initiative is part of the company's Reliability Roadmap, which includes other measures such as line clearing, iron poles installation, and underground power lines. The technology enables workers to detect potential issues through thermal imaging before they cause outages, allowing for proactive repairs.
CMS Energy's Board of Directors has declared a quarterly dividend of 51.50 cents per share on the company's common stock. The dividend is payable on November 27, 2024, to shareholders of record as of November 13, 2024. CMS Energy, listed on the NYSE under the ticker CMS, is a Michigan-based energy company with Consumers Energy as its primary business. The company also operates independent power generation businesses.
Shareholders can access additional dividend information, including tax status of distributions, through the Tax Information section of CMS Energy's website at www.cmsenergy.com. The company encourages interested parties to visit their website for more information and to sign up for email alert notifications in the Investor Relations section.
Consumers Energy has been selected by the U.S. Department of Energy for a nearly $20 million financial assistance award to deploy new technology providing real-time visibility into the grid and help integrate electric vehicles into Michigan's electric grid. This commitment will be matched by $20 million from Consumers Energy, totaling nearly $40 million for the project.
The company plans to add AI-powered modules to 18,000 electric meters used by Michigan EV owners, providing real-time data analytics and predictions to better understand the impact of EVs on the electric grid. Consumers Energy is partnering with Utilidata to deploy custom NVIDIA modules, bringing cutting-edge AI capabilities to the electric grid. Over half of the devices will be placed in economically disadvantaged communities.
This initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal as an energy source by 2025 and achieve net-zero carbon emissions.
Consumers Energy, Michigan's largest energy provider, is intensifying its efforts to improve electric grid reliability through a record-breaking inspection program. The company plans to inspect 25,500 miles of low-voltage electric lines in 2024, surpassing the Earth's circumference. This initiative is part of Consumers Energy's Reliability Roadmap, aimed at reducing power outages.
The company has been committed to visual inspections since 2022, covering half of its 51,000-mile overhead low-voltage distribution system. These inspections have led to the repair of over 17,500 issues in the past two years. Other tactics in the Roadmap include increased line clearing, new technology, more durable iron poles, and burying power lines.
Consumers Energy serves 6.8 million of Michigan's 10 million residents across all 68 Lower Peninsula counties, providing both natural gas and electricity.
The Consumers Energy Foundation has announced its 2024 Prosperity Award Winners, granting $250,000 each to projects in West Branch and Mundy Township. These grants, part of the Foundation's signature grant rounds, aim to support economic development and community welfare.
The City of West Branch will use the funds to construct the 'Gathering Place', a downtown park featuring amenities and local art. Mundy Township's grant will support the construction of a universally designed amphitheater at Mundy Miracle Commons Park, the largest barrier-free park in Michigan.
In 2023, the Consumers Energy Foundation, Consumers Energy, its employees and retirees contributed over $11 million to Michigan nonprofits. Consumers Energy, the principal subsidiary of CMS Energy (NYSE: CMS), serves 6.8 million residents across Michigan's Lower Peninsula.
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