Welcome to our dedicated page for CMS ENERGY news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS ENERGY 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.
CMS Energy has declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on July 15, 2022, to shareholders of record as of the close of business on July 1, 2022. As a Michigan-based energy provider, CMS Energy continues to support its investors with this dividend declaration, reflecting its commitment to shareholder returns.
Consumers Energy, the main subsidiary of CMS Energy, announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS_pb). This dividend will be payable on July 1, 2022, to shareholders of record by June 6, 2022. As a major energy provider in Michigan, CMS Energy remains committed to delivering value to its shareholders through consistent dividend payments.
CMS Energy reported first quarter earnings per share of $1.21, consistent with the same period last year. Adjusted EPS rose to $1.20 from $1.09 year-over-year. The company reaffirmed its 2022 adjusted earnings guidance of $2.85 to $2.89 per share and aims for long-term adjusted EPS growth of 6 to 8 percent. CMS Energy emphasized its commitment to eliminating coal generation by 2025 and achieving net zero carbon emissions by 2040.
Consumers Energy has proposed a $272 million investment to enhance Michigan's energy reliability and sustainability, awaiting approval from the Michigan Public Service Commission. This initiative is part of a broader $5.4 billion Electric Distribution Infrastructure Investment Plan aimed at modernizing the energy grid over five years. Key elements include enhancing grid reliability, increasing investments in clean energy, and supporting economic growth. If approved, residential electric bills may increase by $7.50 monthly, while the company aims to reduce outages by 15% by 2025.
Consumers Energy has introduced the Mi Clean Air program, aimed at enabling residential and business customers to offset carbon emissions from natural gas. Launched on April 26, 2022, the initiative allows participants to purchase offset credits generated from sustainable forest management in Luce County, Michigan. The program supports Consumers Energy's goal to achieve net zero greenhouse gas emissions from its natural gas system by 2050. Residential customers can offset about 30% of their usage for $6 per month.
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.
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