CMS Energy Corporation - CMS STOCK NEWS

Consumers Energy is completing 1,350 major projects in 2024 as part of its Reliability Roadmap initiative, investing $63.5 million within a broader $1 billion grid strengthening program. Key achievements include inspecting 25,800 miles of overhead power lines, clearing vegetation from 7,000 miles of lines, and preventing outages for 177,000 customers through helicopter inspections. The company installed 100 new automatic transfer reclosers and buried 10 miles of overhead lines, with plans to extend underground lines by 35 miles in 2025.

The initiative aims to enhance grid reliability for nearly 2 million homes and businesses, with a goal of restoring power in all situations within 24 hours. The company serves 6.8 million residents across Michigan's Lower Peninsula counties with electricity and natural gas services.

Consumers Energy has announced plans to modernize its natural gas system serving over 1.8 million Michigan homes and businesses. The company will replace up to 10,000 vintage service lines and install remote control valves on major pipelines. The upgrade plan includes modernizing gas delivery hubs and pressure regulation facilities within the next decade.

The company has filed a $248 million natural gas rate request with the Michigan Public Service Commission, with potential impact on customer bills starting late 2025. The recently completed Mid-Michigan Pipeline has upgraded hundreds of miles of transmission pipeline system. The modernization project aims to enhance safety, reliability, and environmental sustainability while maintaining costs at less than $3 per day for typical households.

Consumers Energy has announced energy-saving strategies to help Michigan customers manage winter heating costs. The company highlights that home heating accounts for approximately 30% of customers' energy bills, with water heaters contributing nearly 15%. Installing a programmable smart thermostat can save up to 20% on heating costs, with customers typically saving 1-3% for each degree reduction.

Key recommendations include regular heating system maintenance, sealing drafts, utilizing ceiling fans effectively, and optimizing water heater settings to 120 degrees. The company also reminds customers that assistance is available through their 2-1-1 service for those needing help with energy bills. Consumers Energy serves 6.8 million residents across Michigan's Lower Peninsula counties.

Consumers Energy has successfully prevented over 72,000 power outages in 2024 through the implementation of smart technology called automatic transfer reclosers (ATRs). These devices, functioning like traffic lights, automatically detect and limit power outages, saving customers more than 350,000 hours of potential outage time. The company has deployed nearly 550 ATRs across Michigan and plans to install over 100 more this year as part of its Reliability Roadmap. The initiative aims to limit storm-related outages to 100,000 customers and restore power within 24 hours.

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.