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.
On April 25, 2022, the Consumers Energy Foundation announced the allocation of $500,000 in funding for three environmental projects in Michigan as part of the Planet Awards. The projects aim to preserve freshwater resources, enhance urban tree canopies, and restore natural habitats. Recipients include the Green Macomb Urban Forest Partnership, which will plant 1,000 trees and native shrubs, Oshtemo Charter Township for restoring the Fruit Belt Rail Corridor, and the Huron-Clinton Metropolitan Authority for restoring Huron River habitats.
The Board of Directors of CMS Energy has announced a quarterly dividend of 46 cents per share on its common stock, CUSIP: 125896100. This dividend will be payable on May 31, 2022, to shareholders of record as of May 6, 2022. CMS Energy, based in Michigan, operates primarily through Consumers Energy and also runs independent power generation businesses.
Consumers Energy, Michigan's largest energy provider, has reached a landmark settlement regarding its Clean Energy Plan, aiming to eliminate coal as a fuel source by 2025. This agreement involves a coalition of stakeholders and outlines a 20-year strategy to meet Michigan's energy needs while protecting the environment. Key highlights include the closure of coal plants, plans for nearly 8,000 MW of solar power by 2040, the acceleration of energy storage deployment, and estimated savings of $600 million for customers. This settlement awaits review by the Michigan Public Service Commission.
CMS Energy has announced that it will provide its 2022 first quarter results along with a business and financial outlook on May 3, 2022, at 9:00 a.m. EDT. A webcast will be accessible on the company's website, allowing investors to follow the results live. An audio replay will also be available after the event. CMS Energy is a Michigan-based energy company, primarily operating through Consumers Energy and independent power generation businesses.
CMS Energy announced the appointment of Christopher (Chris) Fultz as vice president of gas operations, effective March 1, 2022. Fultz will oversee the company's gas compression, transmission, and distribution functions, ensuring the integrity of the gas system. Previously, he served as executive director of gas operations and has been with the company since 2014. Chris holds degrees in electrical engineering and an MBA. His leadership is expected to enhance safety performance and support Michigan's prosperity.
Consumers Energy is set to enhance Michigan's electric vehicle (EV) infrastructure by adding 200 new charging stations, with 100 of them being fast chargers, by the end of 2023. This initiative supports the company's goal to facilitate 1 million EVs in its service areas by 2030. EV adoption is on the rise, showing a 58% increase statewide. With over 1,500 existing chargers, including 35 fast chargers, Consumers Energy aims to provide affordable home charging solutions and help businesses electrify their fleets.
The Consumers Energy Foundation is reviving the Put Your Town on the Map pitch competition, offering a total of $50,000 for community projects in Michigan. Communities with populations under 10,000 can submit proposals until March 18. The competition encourages innovative projects that foster community pride and economic growth. Finalists will present at the Small Town and Rural Development Conference in May, with grants awarded to the top three ideas: $25,000, $15,000, and $10,000. The initiative aims to support Michigan's small towns in overcoming recent challenges.
On February 11, 2022, CMS Energy declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The dividend will be payable on April 15, 2022, to shareholders on record as of April 1, 2022. CMS Energy, based in Michigan, primarily operates through Consumers Energy and also runs independent power generation businesses.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, has declared a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS_pb). This dividend is payable on April 1, 2022, to shareholders on record as of March 7, 2022. CMS Energy, based in Michigan, provides energy services and operates independent power generation businesses.
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