CMS Energy Corporation - CMS STOCK NEWS

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.

Consumers Energy has announced a new initiative to expand electric vehicle (EV) charging at Michigan workplaces. The company expects over 500 workplaces to install charging stations by 2030. The program offers $7,500 rebates to businesses that install two or more EV chargers for employees, with larger rebates available for making chargers public.

This effort is part of Consumers Energy's broader strategy to support EV adoption in Michigan. The company projects powering more than 1,500 public fast charging locations by the end of 2030. Consumers Energy has seen the number of EVs in their communities triple in the last four years and is working to make EV ownership more affordable and convenient.

The initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal by 2025, reduce energy waste, and add renewable energy sources. The company serves 6.8 million Michigan residents and plans to meet 90% of customers' energy needs through clean sources, including wind and solar.