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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.

News

CONSUMERS ENERGY ANNOUNCES THE SALE OF ITS APPLIANCE SERVICE PLAN BUSINESS TO ONCOURSE HOME SOLUTIONS

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Consumers Energy, a subsidiary of CMS Energy, has executed a definitive agreement to sell its internal business unit, the Appliance Service Plan, to Oncourse Home Solutions. The transaction is expected to close in the first half of 2024. ASP has been the leading provider of appliance protection and related services to homeowners in Michigan for over 35 years, with over 150,000 Michigan households as customers. Consumers Energy aims to remain focused on providing electric and natural gas service to 6.7 million residents in Michigan.
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CMS Energy Announces Finance and Electric Supply Leadership Changes

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CMS Energy announced the retirement of Tim Sparks, vice president of electric supply, after more than 30 years with the company. Sri Maddipati has been named as his replacement, bringing extensive knowledge of energy markets and strong financial acumen. Jason Shore has replaced Sri as treasurer and vice president of investor relations. CMS Energy is a Michigan-based company with an electric and natural gas utility, Consumers Energy, as its primary business.
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CMS Energy's Board of Directors Increases Quarterly Dividend on Common Stock to 51.50 Cents Per Share

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CMS Energy's Board of Directors increased the quarterly dividend on the company's common stock to 51.50 cents per share, up from 48.75 cents per share. This represents an annualized yield of 3.6 percent. The first quarter dividend for the common stock is payable Feb. 29, 2024, to shareholders of record Feb. 12, 2024. CMS Energy's president and CEO, Garrick Rochow, stated that the decision reflects the successful execution of the company's strategy. The company, which is Michigan-based, has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.
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CMS Energy Announces Strong 2023 Results for the 21st Consecutive Year and Raises 2024 Adjusted EPS Guidance

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CMS Energy reported a rise in earnings per share for 2023, with a significant increase in adjusted earnings per share and an 11 cent increase in annual dividend for 2024. The company also raised its 2024 adjusted earnings guidance, indicating positive financial performance and shareholder returns.
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Consumers Energy and Consumers Energy Foundation Donate More than $11 Million in 2023

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The Consumers Energy Foundation, Consumers Energy, and its employees and retirees donated over $11 million in grants, sponsorships, and funding to nonprofits and municipalities in Michigan in 2023. This included $1.5 million in signature grants, $755,000 donated by employees and retirees for the United Way campaign, and $200,000 for the Diversity, Equity, and Inclusion Grantmaking Program. Employees and retirees also volunteered over 65,000 hours to support nonprofits, with key community events supported across the state. The Consumers Energy Foundation, Consumers Energy, its employees, and retirees are not funded by customer rates. The Consumers Energy Foundation contributed to the growth and strengthening of Michigan communities by investing in people, the planet, and Michigan's prosperity.
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Consumers Energy Foundation Planet Awards to Provide $500,000 to Environmental Projects

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The Consumers Energy Foundation is offering $500,000 in grants through the 2024 Planet Awards to support Michigan nonprofits and municipalities working to make a positive impact on the state's land, water, and air. The awards are the first of three $500,000 grant rounds in 2024, totaling $1.5 million. The Foundation is seeking letters of intent to support projects improving Michigan's environment in the categories of Land, Water, and Air. Last year's Planet Awards helped protect threatened and endangered species and create natural spaces. Consumers Energy Foundation, the charitable arm of Consumers Energy, contributed over $11 million to Michigan nonprofits in 2023. Consumers Energy is the principal subsidiary of CMS Energy, providing natural gas and/or electricity to 6.7 million of Michigan's 10 million residents in all 68 Lower Peninsula counties.
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Consumers Energy Foundation to Award $50,000 for Three Small Towns in Put Your Town on the Map Competition

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The Consumers Energy Foundation is hosting the Put Your Town on the Map pitch competition, offering $50,000 in grant funding for small communities in Michigan. The competition aims to support projects that drive business attraction, economic development, and population growth in communities with up to 10,000 residents. The top three winners will receive grants worth $25,000, $15,000, and $10,000 respectively. The competition is sponsored by the Consumers Energy Foundation and the Community Economic Development Association of Michigan (CEDAM). The Consumers Energy Foundation, along with Consumers Energy, its employees, and retirees, contributed over $11 million to Michigan nonprofits in 2023.
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Consumers Energy Offers Tips to Help Households Reduce Winter Heating Bills and Get Help

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Consumers Energy, Michigan's largest energy provider, is highlighting programs to help residents lower and get assistance with their energy bills in the face of frigid cold. The company's vice president of customer experience, Lauren Snyder, emphasized the significant drop in natural gas costs and shared tips to reduce energy waste. Consumers Energy is also promoting various assistance programs and services to support customers during the winter season.
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CMS Energy to Announce 2023 Year-End Results on February 1

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CMS Energy (NYSE: CMS) will provide 2023 year-end results and a business and financial outlook on February 1, 2024. The company, based in Michigan, operates Consumers Energy as its primary business and also owns independent power generation businesses.
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Consumers Energy Starts Operating Heartland Farms Wind in Central Michigan

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Heartland Farms Wind (ticker symbol: HFW) Powers 330,000 Households with Clean Energy
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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 $68.23 as of November 15, 2024.

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

The market cap of CMS Energy Corporation (CMS) is approximately 20.3B.

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.

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CMS Energy Corporation

NYSE:CMS

CMS Rankings

#540 Ranked by Market Cap
#1032 Ranked by Dividends

CMS Stock Data

20.34B
298.73M
0.49%
95.93%
3.06%
Utilities - Regulated Electric
Electric & Other Services Combined
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