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, the largest energy provider in Michigan, announced its "Our Town" initiative, distributing $750,000 in matching gift cards across 63 communities. The program allows shoppers to double their purchasing power for local businesses by matching gift card purchases made through local Chambers of Commerce. Each community will receive between $5,000 and $40,000 to support small businesses during the holiday season. The initiative aims to bolster local economies as Michigan rebounds from the pandemic.
Consumers Energy has announced agreements to add nearly 400 megawatts of clean energy from three solar projects in Michigan, sufficient to power about 190,000 homes. These projects are part of the company's Clean Energy Plan, which aims to eliminate coal power by 2025 and achieve net-zero carbon emissions by 2040. The new solar facilities, expected to begin operations in 2023, include Washtenaw Solar (150 MW), Jackson Solar (125 MW), and Cereal City Solar (100 MW). Consumers Energy plans to add 8,000 MW of solar power by 2040, ensuring energy needs are met sustainably.
Consumers Energy, based in Michigan, launched two Ford Edge SUVs equipped with advanced methane leak detection technology from Picarro Inc. This $4 million investment aims to enhance the company’s natural gas leak detection capabilities and fulfill its goal of achieving net zero methane emissions by 2030. The vehicles, which will patrol nearly 28,000 miles of distribution network, can identify and analyze potential gas leaks in real-time. The initiative is part of Consumers Energy's commitment to reducing methane emissions, having already achieved a 15% reduction.
CMS Energy has declared a dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on January 15, 2022, to shareholders of record by the close of business on January 1, 2022. Based in Michigan, CMS Energy operates primarily through Consumers Energy and also runs independent power generation businesses.
On Nov. 12, 2021, CMS Energy's Board of Directors announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS_pb), payable on Jan. 1, 2022. Shareholders of record as of Dec. 6, 2021 will receive this dividend. CMS Energy, based in Michigan, operates Consumers Energy as its primary business and also has independent power generation interests.
The Consumers Energy Foundation has awarded two $250,000 Prosperity Awards to support economic development projects in Michigan, aimed at enhancing local communities. The recipients include the City of Cadillac for its Community Revitalization Plan, which will improve the urban landscape and reduce crime, and Communities First, Inc. for restoring the Flint Masonic Temple into a cultural venue. This initiative is part of a $1.5 million grant allocation for community growth. The Foundation emphasizes a commitment to Michigan's prosperity, focusing on people and the environment.
On November 9, 2021, Consumers Energy and DTE Energy urged Michigan residents to safeguard against carbon monoxide (CO) poisoning, the leading danger during colder months. This initiative coincides with Michigan Carbon Monoxide Safety Awareness Week (Nov. 8-14). Key messages include the importance of installing carbon monoxide alarms and having appliances professionally inspected annually. Symptoms of CO poisoning, often mistaken for flu, can escalate quickly and prove fatal. Residents are encouraged to take immediate action if CO exposure is suspected.
Consumers Energy has announced a commitment to support the operation of 1 million electric vehicles (EVs) in Michigan by 2030. This initiative aims to position Michigan as a leader in the transition to clean, zero-emissions vehicles, coinciding with the auto industry’s goal of having 50% EV sales by the same year. Currently, around 12,000 EVs are registered in the area served by Consumers Energy, with sales increasing by 20% annually. The company plans to establish over 200 fast-charging locations and will implement various rebate programs to enhance EV adoption.
CMS Energy reported third-quarter 2021 earnings per share (EPS) of $0.54, down from $0.72 in Q3 2020, excluding discontinued operations of EnerBank USA. The company completed the sale of EnerBank for over $1 billion and plans to reinvest the proceeds into core utility operations, focusing on grid hardening and clean energy transformation. Full-year 2021 adjusted EPS guidance was raised to $2.63 - $2.65, with 2022 guidance reaffirmed at $2.85 - $2.87. CMS Energy aims for long-term EPS growth of 6 to 8 percent.
The Board of Directors of CMS Energy has declared a quarterly dividend of 43.50 cents per share on its common stock. This dividend is payable on November 30, 2021, to shareholders of record as of November 5, 2021. As a Michigan-based energy company, CMS Energy operates Consumers Energy and independent power generation businesses, presenting a stable income opportunity for investors.
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