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    C

    CMS Energy Corporation (CMS)

    Official site

    UTILITIES • UTILITIES - REGULATED ELECTRIC • NYSE

    $66.95
    +0.13 (+0.19%)

    Market Cap: $20.99B

    Last updated: Oct 16, 2026 at 5:00 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    87%(34/39)
    Avg Surprise
    +4.21%
    Streak
    26 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$1.16
    Range$0.98 - $1.43
    10 analysts
    EPS RevisionsNo revisions (7d)
    1
    1
    30d
    EPS Estimate DriftChange to current
    90d ago$1.07+8.0%
    60d ago$1.12+3.0%
    30d ago$1.14+1.9%
    7d ago$1.12+3.1%
    Current$1.16
    Revenue Consensus
    $2.2B
    Range$2.1B - $2.2B
    5 analysts
    Period ending Dec 31, 2026
    EPS Consensus$1.25
    Range$1.23 - $1.27
    14 analysts
    Revenue Consensus
    $2.6B
    Range$2.1B - $3.0B
    10 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.25---
    Sep 26EST
    		-$1.16---
    Jun 26
    Reported Jul 28
    		$0.37$0.37+0.00%Beat-47.9%
    Mar 26
    Reported Apr 28
    		$1.13$1.10+2.73%Beat+10.8%
    Dec 25
    Reported Feb 5
    		$0.95$0.94+1.06%Beat+9.2%
    Sep 25
    Reported Oct 30
    		$0.93$0.86+8.14%Beat+10.7%
    Jun 25
    Reported Jul 31
    		$0.71$0.68+4.41%Beat+7.6%
    Mar 25
    Reported Apr 24
    		$1.02$1.01+0.99%Beat+5.2%
    Dec 24
    Reported Feb 6
    		$0.87$0.87+0.00%Beat-17.1%
    Sep 24
    Reported Oct 31
    		$0.84$0.78+7.69%Beat+37.7%
    Jun 24
    Reported Jul 25
    		$0.66$0.62+6.45%Beat-12.0%
    Mar 24
    Reported Apr 25
    		$0.97$0.95+2.11%Beat+38.6%
    Dec 23
    Reported Feb 1
    		$1.05$1.04+0.96%Beat+75.0%
    Sep 23
    Reported Oct 26
    		$0.61$0.59+3.39%Beat+8.9%
    Jun 23
    Reported Jul 27
    		$0.75$0.69+8.70%Beat+41.5%
    Mar 23
    Reported Apr 27
    		$0.70$0.70+0.00%Beat-41.7%
    Dec 22
    Reported Feb 2
    		$0.60$0.57+5.26%Beat+27.7%
    Sep 22
    Reported Oct 27
    		$0.56$0.53+5.66%Beat+3.7%
    Jun 22
    Reported Jul 28
    		$0.53$0.45+17.78%Beat-3.6%
    Mar 22
    Reported May 3
    		$1.20$1.12+7.14%Beat-0.8%
    Dec 21
    Reported Feb 3
    		$0.47$0.46+2.17%Beat-16.1%
    Sep 21
    Reported Oct 28
    		$0.54$0.54+0.00%Beat-29.9%
    Jun 21
    Reported Jul 29
    		$0.55$0.45+22.22%Beat+12.2%
    Mar 21
    Reported Apr 29
    		$1.21$1.14+6.14%Beat+39.1%
    Dec 20
    Reported Feb 4
    		$0.56$0.55+1.82%Beat-17.6%
    Sep 20
    Reported Oct 29
    		$0.77$0.71+8.45%Beat+5.5%
    Jun 20
    Reported Aug 3
    		$0.49$0.43+13.95%Beat+48.5%
    Mar 20
    Reported Apr 27
    		$0.87$0.80+8.75%Beat+16.0%
    Dec 19
    Reported Jan 30
    		$0.68$0.69-1.45%Miss+70.0%
    Sep 19
    Reported Oct 24
    		$0.73$0.68+7.35%Beat+23.7%
    Jun 19
    Reported Jul 25
    		$0.33$0.37-10.81%Miss-31.2%
    Mar 19
    Reported Apr 25
    		$0.75$0.78-3.85%Miss-12.8%
    Dec 18
    Reported Jan 31
    		$0.40$0.41-2.44%Miss-21.6%
    Sep 18
    Reported Oct 25
    		$0.59$0.58+1.72%Beat-4.8%
    Jun 18
    Reported Jul 26
    		$0.48$0.41+17.07%Beat+45.5%
    Mar 18
    Reported Apr 26
    		$0.86$0.81+6.17%Beat+21.1%
    Dec 17
    Reported Feb 14
    		$0.51$0.51+0.00%Beat+75.9%
    Sep 17
    Reported Oct 26
    		$0.62$0.56+10.71%Beat-
    Jun 17
    Reported Jul 28
    		$0.33$0.39-15.38%Miss-
    Mar 17
    Reported May 1
    		$0.71$0.65+9.23%Beat-
    Dec 16
    Reported Feb 2
    		$0.29$0.29+0.00%Beat-

    Dividends

    Dividend Metrics

    Forward Yield3.41%
    Forward Annual Dividend$2.28
    Payout Ratio48.50%
    FrequencyQuarterly
    Pay MonthsFeb, May, Jul, Sep, Nov

    Growth

    3Y CAGR+5.65%
    5Y CAGR+5.89%
    CMS dividend history and ex-dividend datesRun CMS in the free DRIP calculator

    Key Metrics

    Valuation
    P/E Ratio19.81EV/EBITDA13.79x
    Price/FCF-13.94xFCF Yield-7.17%
    Profitability
    Profit Margin11.60%Operating Margin17.20%
    ROE9.16%ROIC5.31%
    Financial Health
    Debt/Equity1.95xInterest Coverage2.35x
    Current Ratio0.94xQuick Ratio0.67x
    Trading Statistics
    Beta0.31Avg Volume4.20M
    52-Week High$79.1052-Week Low$62.29

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$65.47
    SMA 20$64.53
    SMA 50$67.09
    SMA 200$71.82
    EMA 10$65.71
    EMA 20$65.52
    EMA 50$67.05
    EMA 200$70.59

    MACD

    Line: -0.15Signal: -0.71Hist: 0.56

    ADX

    ADX: 27.2+DI: 26.1-DI: 16.2

    Aroon & PSAR

    Aroon UpN/A
    Aroon Down52.0
    PSAR$64.71

    Bollinger Bands

    Upper Band$67.25
    Lower Band$61.81
    %B Position842%(Upper)
    Band Width0.95

    RSI (14-Day)

    Neutral
    60.9

    Momentum Oscillators

    Stoch %K92.3
    Stoch %D95.9
    Williams %R-16.5
    ROC (10d)5.2%
    Momentum3.31
    CCI (20d)168.9
    MFI (14d)75.1

    Volatility Measures

    ATR (14d)$1.07(1.6%)
    StdDev (20d)1.36
    Hist Vol13.8%(Low)

    Volume Flow

    VWAP$67.21
    OBV53.3M
    AD Line-1.6B
    CMF (20d)0.014

    Volume Metrics

    Avg Vol (20d)4.3M
    Vol Ratio1.1x
    VWMA (20d)$64.42

    Pivot Points

    R3$69.27
    R2$68.13
    R1$67.47
    Pivot Point$66.33
    S1$65.68
    S2$64.54
    S3$63.88

    Advanced Oscillators

    TSI-5.53
    Ultimate Osc68.7
    KST-30.97

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$1.83B$2.73B$2.23B$2.02B$1.84B$2.45B$1.99B$1.74B$1.61B$2.18B$1.95B$1.67B
    Cost of Revenue$675.00M$1.21B$812.00M$729.00M$727.00M$998.00M$692.00M$592.00M$545.00M$839.00M$714.00M$602.00M
    Gross Profit$1.15B$1.52B$1.42B$1.29B$1.11B$1.45B$1.30B$1.15B$1.06B$1.34B$1.24B$1.07B
    Operating Expenses$890.00M$1.03B$986.00M$811.00M$794.00M$955.00M$872.00M$784.00M$779.00M$925.00M$830.00M$800.00M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$464.00M$448.00M$509.00M$416.00M$397.00M$405.00M$420.00M$412.00M$404.00M$402.00M$403.00M$447.00M
    Operating Income$264.00M$490.00M$435.00M$481.00M$317.00M$494.00M$425.00M$367.00M$283.00M$412.00M$406.00M$271.00M
    Interest Income$0$0$0$0$0$0$0$0$0$0$0$0
    Interest Expense$210.00M$204.00M$209.00M$203.00M$199.00M$187.00M$180.00M$178.00M$173.00M$177.00M$172.00M$164.00M
    Income Before Tax$129.00M$362.00M$295.00M$340.00M$255.00M$358.00M$306.00M$273.00M$223.00M$321.00M$317.00M$184.00M
    Income Tax Expense$33.00M$85.00M$53.00M$68.00M$62.00M$63.00M$51.00M$26.00M$41.00M$58.00M$66.00M$11.00M
    Net Income$96.00M$277.00M$242.00M$272.00M$193.00M$295.00M$255.00M$247.00M$182.00M$263.00M$251.00M$173.00M
    EBITDA$647.00M$977.00M$838.00M$831.00M$742.00M$932.00M$812.00M$724.00M$669.00M$866.00M$799.00M$610.00M
    EBIT$339.00M$565.00M$496.00M$543.00M$454.00M$544.00M$486.00M$451.00M$396.00M$498.00M$489.00M$348.00M
    * Some calculated fields are derived from available data when not provided by source

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    News

    CMS Maintained by Barclays -- Price Target Lowered to $72.00

    Barclays has maintained an Overweight rating for CMS Energy (CMS) but lowered its price target to $72.00 from $81.00. Despite this cautious outlook, GuruFocus indicates CMS is 8.9% undervalued with a GF Value™ of $75.52...

    GuruFocus•10/16/26•Neutral

    State regulators approve nearly $140M rate hike for Consumers Energy natural gas customers

    The Michigan Public Service Commission has approved a $139.2 million annual natural gas rate increase for Consumers Energy...

    ClickOnDetroit | WDIV Local 4•10/16/26•Somewhat-Bullish

    Michigan approves 4.3% natural gas rate hike for Consumers Energy customers amid AG criticism

    Michigan's Public Service Commission approved a 4.3% natural gas rate increase for Consumers Energy customers, generating an additional $95.5 million for the utility. This decision comes despite strong opposition from...

    WTOL•10/15/26•Somewhat-Bullish

    Michigan approves 4.3% natural gas rate hike for Consumers Energy customers amid AG criticism

    Michigan regulators have approved a 4.3% natural gas rate increase for Consumers Energy customers, leading to an average bill increase of $4.68 per month. This decision comes despite criticism from Michigan Attorney...

    WZZM13.com•10/15/26•Somewhat-Bullish

    Truist lowers target for CMS Energy stock to USD 77.00

    Truist has lowered its price target for CMS Energy (CMS) stock from USD 81.00 to USD 77.00, while maintaining a Buy rating. This adjustment comes ahead of CMS Energy's third-quarter 2026 earnings report scheduled...

    ad-hoc-news.de•10/15/26•Somewhat-Bearish

    CMS Valuation and Fair Value

    P/E
    19.8x
    Forward P/E
    15.2x
    EV/EBITDA
    13.8x
    P/FCF
    -13.9x
    PEG
    2.3x
    P/B
    2.8x
    See GNG's fair value

    CMS Profitability: Margins, ROIC and FCF

    Gross margin
    61.2%
    Operating margin
    17.2%
    Net margin
    11.6%
    ROIC
    5.3%
    ROE
    9.2%
    FCF margin
    -21.7%
    FCF yield
    -7.2%

    CMS Competitors

    CompanyTicker
    Edison InternationalEIX
    NiSource IncNI
    NRG Energy Inc.NRG
    Evergy, Inc.EVRG
    Companhia de Saneamento Basico do Estado de Sao Paulo SABESP ADRSBS
    Alliant Energy CorpLNT
    Centrais Elétricas Brasileiras S.A. - EletrobrásEBR-B
    Talen Energy CorporationTLN

    Sector: Utilities

    CMS Analyst Ratings

    Consensus
    Buy
    Analysts
    15
    Strong Buy
    3
    Buy
    4
    Hold
    8
    Sell
    0
    Strong Sell
    0

    CMS Bull Case vs Bear Case

    Bull case

    • CMS beat EPS estimates in 75.0% of its last 8 reported quarters.

    Bear case

    • CMS's quarterly revenue changed -0.5% year over year.

    CMS Earnings: Beat Rate and Next Report

    Beat rate
    6 of 8 quarters (75.0%)
    Average surprise
    3.1%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $1.16
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    1 up, 1 down

    CMS Dividend

    Forward yield
    3.4%
    Payout ratio
    48.5%
    3Y DPS growth
    5.7%
    5Y DPS growth
    5.9%
    Pay months
    Feb, May, Jul, Sep, Nov
    CMS dividend history

    Frequently Asked Questions About CMS

    What is CMS's current dividend yield?

    CMS Energy Corporation (CMS) has a forward dividend yield of 3.41%.

    Does CMS pay dividends?

    Yes, CMS Energy Corporation pays dividends with a forward dividend yield of 3.41%.

    What is CMS's P/E ratio?

    CMS Energy Corporation has a price-to-earnings (P/E) ratio of 19.81.

    What is CMS's market cap?

    CMS Energy Corporation (CMS) has a market capitalization of $20.99B with a current stock price of $66.95.

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