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CMS Energy Corporation - CMS STOCK NEWS

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.

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The Board of Directors of CMS Energy has declared a quarterly dividend of 40.75 cents per share on its common stock. This dividend is payable on Nov. 30, 2020, to shareholders on record as of Nov. 6, 2020. CMS Energy, which operates mainly through its utility subsidiary, Consumers Energy, continues to demonstrate its commitment to returning value to shareholders.

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Consumers Energy has successfully removed long-retired electric cables and associated infrastructure from the Straits of Mackinac, enhancing safety and environmental integrity. The de-energized 46 kV cables, inactive since 1990, were extracted to mitigate risks after a reported tugboat anchor strike in 2018. The project, completed in five months, involved collaboration with environmental stakeholders and recycling efforts to offset costs. Consumers Energy remains committed to protecting Michigan's waterways, serving 6.7 million residents across the state.

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Consumers Energy has committed $12 million to assist Michigan residents and small businesses impacted by the COVID-19 pandemic. The funds aim to support approximately 25,000 households and 1,000 small businesses with their energy bills. This initiative is part of a broader effort, with over $16 million allocated since March for pandemic-related support. The company has suspended energy shut-offs and is providing resources to help customers. Looking ahead, consumers can expect to pay 20% less next year compared to a decade ago for natural gas.

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Consumers Energy has partnered with the Michigan Department of Natural Resources and a wildlife rehabilitator to provide a safe habitat for three orphaned whitetail deer fawns on its land in Southeast Michigan. The fawns, rescued from illegal captivity and vehicular accidents, were released into a remote area to minimize human interaction. The company has committed to continuing this environmental conservation effort by granting annual licenses for wildlife rehabilitation on its properties.

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The Consumers Energy Foundation announced a $250,000 grant to Youth Opportunities Unlimited aimed at enhancing career readiness for 650 young adults in Southwest Michigan. This initiative will expand the Career Pathway Initiative in multiple counties, providing job training in high-demand fields. The grant is part of a larger $1.5 million allocation through the Foundation's People Awards. The Consumers Energy Foundation, Michigan's largest energy provider's charitable arm, contributed over $11.5 million to state nonprofits in 2019.

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Consumers Energy employee Eric Florka survived a severe battle with COVID-19, spending 44 days hospitalized and losing 40 pounds. After recovering, he emphasizes the importance of protective measures like masking. Florka, who feels grateful for his life, urges others to heed health guidelines to prevent the virus's spread. He returned to full-time work and is committed to appreciating life daily. Consumers Energy serves 6.7 million Michigan residents, contributing to their welfare during the pandemic.

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Consumers Energy is collaborating with Central Michigan University and the Michigan Department of Natural Resources to support the recovery of endangered snuffbox mussels in the Grand River. The project involves propagating mussels at Webber Dam, utilizing a unique system for the first time in Michigan. This effort includes adding larval mussels to fish hosts for growth before release, contributing to improved water quality. Snuffbox mussels, listed as endangered since 2012, are crucial for filtering contaminants in their habitat. Consumers Energy, the largest energy provider in Michigan, is pivotal in facilitating this initiative.

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Consumers Energy has dispatched over 50 personnel to Indiana to aid in restoring power to more than 40,000 residents affected by severe storms. The team includes 15 crews from various Lower Michigan service centers, as well as 12 contractor crews. The collaboration with NIPSCO, Indiana's local energy provider, aims to repair extensive damage caused by hurricane-force winds. Approximately 33,000 Consumers Energy customers in Michigan were also impacted, with restoration expected for most by 10 p.m. on Aug. 11, 2020. Consumers Energy is a principal subsidiary of CMS, serving 6.7 million residents in Michigan.

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On August 6, 2020, Consumers Energy, a subsidiary of CMS Energy, declared a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS_pb). The dividend will be payable on October 1, 2020, to shareholders of record by September 8, 2020. CMS Energy operates a significant electric and natural gas utility in Michigan alongside its independent power generation ventures, demonstrating a commitment to returning value to its shareholders.

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FAQ

What is the current stock price of CMS Energy Corporation (CMS)?

The current stock price of CMS Energy Corporation (CMS) is $66.67 as of December 23, 2024.

What is the market cap of CMS Energy Corporation (CMS)?

The market cap of CMS Energy Corporation (CMS) is approximately 19.8B.

What services does CMS Energy provide?

CMS Energy provides natural gas and electric services through Consumers Energy, and engages in wholesale power generation through CMS Enterprises.

How many customers does Consumers Energy serve?

Consumers Energy serves approximately 1.8 million natural gas customers and 1.9 million electric customers in Michigan.

What are CMS Energy's recent financial highlights?

In 2023, CMS Energy reported an EPS of $3.01 and an adjusted EPS of $3.11. The annual dividend was increased to $2.06 per share for 2024.

What is the significance of CMS Energy's sale of the Appliance Service Plan business?

The sale to Oncourse Home Solutions allows CMS Energy to focus on its core energy services, while Oncourse can grow its business in appliance protection.

What are CMS Energy's sustainability initiatives?

CMS Energy is committed to adding 8,000 megawatts of solar energy by 2040 and has agreements with corporations like Walmart to supply renewable energy.

How does CMS Energy support community projects?

The Consumers Energy Foundation funds initiatives like the Put Your Town on the Map Competition, providing grants to support small community growth.

What is the role of CMS Enterprises?

CMS Enterprises is involved in wholesale power generation and focuses on renewable energy projects to support CMS Energy's clean energy goals.

How can investors stay updated on CMS Energy's performance?

Investors can stay updated through regular webcasts and reports available on CMS Energy's website.

What impact does CMS Energy's clean energy plan have?

The clean energy plan aims to eliminate coal by 2025, achieve net-zero carbon emissions, and meet 90% of customers' energy needs through clean sources.

How can I learn more about CMS Energy?

For more information, visit CMS Energy's website at www.cmsenergy.com.

CMS Energy Corporation

NYSE:CMS

CMS Rankings

CMS Stock Data

19.77B
296.46M
0.49%
97.76%
2.68%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
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