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78.58 USD
P/E
22.26
EPS
3.53
Yield
2.80%
Safety Score
35
P/B
2.70
ROE
10.86
Beta
0.43
Target Price
79.62 USD
CMS Energy Corporation logo

CMS Energy Corporation

🧾 Earnings Recap – Q3 2025

CMS Energy reported a strong Q3 2025 with significant regulatory approvals, robust growth in renewable investments, and continued expansion in Michigan’s industrial sector, positioning the company for long-term success.

  • Secured regulatory approvals for 8 GW of solar and 2.8 GW of wind investments, reinforcing commitment to Michigan's clean energy goals.
  • Gas rate case received approval for approximately 75% of the request, ensuring infrastructure investments for a safer, cleaner natural gas system.
  • Reported year-to-date connection of 450 MW towards a planned 900 MW of industrial growth, driven by agreements in manufacturing and data centers.
  • Projecting 2-3% annual sales growth over the next five years, supported by a robust $20 billion customer investment plan and strong economic growth in Michigan.
  • Maintained customer utility bills below the national average, focusing on affordability while implementing necessary system investments.
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Key Metrics
Earnings dateApril 23, 2026
P/E22.26
EPS3.53
Book Value29.11
Price to Book2.70
Debt/Equity194.86
% Insiders0.570%
Growth
Revenue Growth0.12%
Earnings Growth0.07%
Estimates
Forward P/E18.82
Forward EPS4.17
Target Mean Price79.62
Dividend
Dividend Yield2.80%
Annual dividends2.20 USD
Ex-Div. DateFeb. 17, 2026
Payout61.90%
5y avg Yield2.94%

DCF Valuation

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DCF Result

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Terminal PV
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Note: historical bars show reported FCF (for context); forward bars show PV of projected FCF; if no per-year data, totals are shown.

CMS Energy Corporation Logo CMS Energy Corporation Analysis (CMS)

United States Utilities Official Website Stock

Is CMS Energy Corporation a good investment? CMS Energy Corporation (CMS) is currently trading at 78.58 USD. Market analysts have a consensus price target of 79.62 USD. This suggests a potential upside from current levels.

In terms of valuation, the stock trades at a P/E ratio of 22.26. This valuation is generally in line with the broader market.

Earnings Schedule: CMS Energy Corporation is expected to release its next earnings report on April 23, 2026. The market consensus estimate for Forward EPS is 4.17.

For income investors, CMS Energy Corporation pays a dividend yield of 2.80%. With a payout ratio of 62%, the dividend appears sustainable.

Investor FAQ

Does CMS Energy Corporation pay a dividend?

Yes, it pays an annual dividend of 2.20 USD (2.80% yield).

What asset class is CMS Energy Corporation?

CMS Energy Corporation is classified as a Stock. You can compare it against its peer in the "Related Symbols" list.

When is the next earnings date?

The next earnings date is projected to be April 23, 2026. The company currently has a trailing EPS of 3.53.

Company Profile

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

Exchange Ticker
NYQ (United States) CMS
Dividend Yield

2.80% (5y avg: 2.94%)

Annual Dividends

2.20 USD

Next ex. div date

Feb. 17, 2026

Payout Ratio

61.90%

Historical Dividends
Year Total Dividends
2027 0.60 USD
2026 2.30 USD
2025 2.17 USD
2024 2.06 USD
2023 1.95 USD
2022 1.84 USD
2021 1.74 USD
2020 1.63 USD
2019 1.53 USD
2018 1.43 USD
2017 1.33 USD
2016 1.24 USD
2015 1.16 USD
2014 1.08 USD
2013 1.02 USD
2012 0.96 USD
2011 0.84 USD
2010 0.66 USD
2009 0.50 USD
2008 0.36 USD
2007 0.20 USD
2002 1.09 USD
2001 1.46 USD
2000 1.46 USD
1999 1.76 USD
1998 1.26 USD
1997 1.14 USD
1996 1.02 USD
1995 0.90 USD
1994 0.78 USD
1993 0.60 USD
1992 0.48 USD
1991 0.48 USD
1990 0.42 USD
1989 0.10 USD
1973 0.50 USD

Yearly aggregated dividends

Dividends

CMS Energy Corporation
Feb 27, 2026 Paid
Dividend
0.57 USD
CMS Energy Corporation
Nov 26, 2025 Paid
Dividend
0.5425 USD
CMS Energy Corporation
Aug 29, 2025 Paid
Dividend
0.5425 USD
CMS Energy Corporation
May 30, 2025 Paid
Dividend
0.5425 USD

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