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.
CMS Energy (NYSE: CMS) has successfully completed the sale of EnerBank USA to Regions Bank (NYSE: RF) for approximately $1 billion. The proceeds will be allocated to enhance CMS's core utility operations. EnerBank has been part of CMS for nearly two decades, and CMS expresses confidence in its future under Regions Bank, which aims to leverage EnerBank's capabilities for customer financing solutions. The transaction marks a strategic move to focus on CMS's primary businesses and improve shareholder value.
CMS Energy has declared a quarterly dividend of $0.30625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock (NYSE: CMS.PRC). This dividend will be payable on October 15, 2021, to shareholders of record by the close of business on October 1, 2021. The company, based in Michigan, operates primarily through Consumers Energy and also engages in independent power generation.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, has announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock, which will be payable on October 1, 2021. Shareholders of record as of September 7, 2021 will receive this dividend. CMS Energy, based in Michigan, is a leading energy provider, operating Consumers Energy and independent power generation businesses.
CMS Energy reported a robust earnings per share (EPS) of $0.61 for Q2 2021, up from $0.48 in Q2 2020. The EPS from continuing operations was $0.55, rising from $0.45 year-over-year. The adjusted earnings per share also saw an increase to $0.55 from $0.46. The company reaffirmed its 2021 adjusted EPS guidance of $2.61 - $2.65 and 2022 guidance of $2.85 - $2.87. CMS Energy emphasized its commitment to a clean energy transition and plans to provide a business outlook during a webcast on July 29, 2021.
CMS Energy's Board of Directors has announced a quarterly dividend of 43.50 cents per share on its common stock. This dividend will be payable on August 31, 2021, to shareholders who are on record as of August 6, 2021. Based in Michigan, CMS Energy operates primarily through Consumers Energy and has independent power generation businesses, emphasizing its commitment to providing reliable energy solutions.
CMS Energy will announce its 2021 second quarter results and provide a business financial outlook on July 29, 2021, at 9:30 a.m. EDT. The presentation will be accessible via webcast on CMS Energy's website, with an audio replay available three hours post-presentation and archived for 30 days. As a Michigan-based energy provider, CMS Energy primarily operates through Consumers Energy and holds independent power generation businesses. Investors can find more information in the Investor Relations section on their website.
Consumers Energy has announced a bold initiative to eliminate coal as a fuel source by 2025, significantly ahead of its previous schedule. This move positions the company as a leader in Michigan's clean energy transformation. The plan aims to utilize 90% clean energy by 2040 and develop 8,000 megawatts of solar energy. The closure of coal-fired units at the Campbell complex is projected to save customers up to $650 million by 2040.
Consumers Energy warns Michigan residents about ongoing energy scams, advising on how to recognize and report them. Scammers impersonate utility representatives, demanding immediate payments through specific methods like prepaid cards. Chris Bush, director of corporate security, emphasizes the importance of customer safety. Residents are urged to avoid sharing personal information and to verify identities of those claiming to be from Consumers Energy. The utility supplies energy to 6.8 million residents across Michigan.
CMS Energy (NYSE: CMS) announced the sale of its subsidiary, EnerBank USA, to Regions Bank for $960 million. The deal is expected to close in Q4 2021, pending regulatory approvals. CMS has reaffirmed its 2021 adjusted earnings guidance of $2.83 - $2.87 per share and introduced 2022 guidance of $2.85 - $2.87 per share, excluding EnerBank. The CEO highlighted that this transaction enhances CMS’s risk profile and reinforces its long-term growth prospects of 6 to 8 percent adjusted EPS growth. Proceeds will fund safety and reliability initiatives in clean energy transformation.
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