The Motley Fool·4d ago
CMS Energy: 3 Key Takeaways for Long-Term InvestorsCMS Energy added 745 megawatts of new customer contracts. NorthStar restructuring reduces parent funding needs by over $500 million.
CMS Energy's regulated rate-base engine remains intact, with net PPPE expanding 24.7% from $25.9B in 2024Q2 to $32.3B in 2026Q2 and revenue posting 8.0-12.5% year-over-year growth driven by authorized rate increases rather than volumetric demand.
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Revenue reached $2.2B in 2026Q3 with 8.0% year-over-year growth, yet operating margin swung from 23.8% in 2025Q3 to 2.2% and diluted EPS collapsed -57.6% to $0.39, suggesting rate-base-driven top-line growth is not converting proportionally into earnings amid D&A that rose 45% to $412M by 2026Q1.
CMS Energy has demonstrated year-over-year earnings growth, driven by its electric and gas utilities. The company reported strong first-quarter 2026 earnings, exceeding analyst expectations for both earnings per share (EPS) and revenue, with revenue in 2025 increasing by 13.63% compared to the previous year.
CMS Energy has a significant capital expenditure plan, with a $20 billion five-year plan (2025-2029) focused on infrastructure upgrades and clean energy generation. This investment is expected to expand its rate base and support long-term adjusted EPS growth targets of 6%–8%.
CMS Energy has a strong track record of returning value to shareholders, including an 18-year dividend growth streak and a target of becoming a Dividend Aristocrat by 2032. The company supports a current dividend yield of around 3.0%, which is attractive to income-focused investors.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
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| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 27, 2026 | $1.44+6.7% vs $1.35 | $2.2B-2.2% vs $2.2B |
Q3 2026 Jul 28, 2026 | $0.37+3.1% vs $0.36 | $1.8B-2.4% vs $1.9B |
Q2 2026 Apr 28, 2026 | $1.13+2.7% vs $1.10 | $2.7B+11.1% vs $2.5B |
Q1 2026 Feb 5, 2026 | $0.95+1.8% vs $0.93 | $2.2B+18.6% vs $1.9B |
CMS Energy added 745 megawatts of new customer contracts. NorthStar restructuring reduces parent funding needs by over $500 million.
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LOS ANGELES--(BUSINESS WIRE)-- #healthcareinnovation--COPE Health Solutions announced it has been selected as a finalist for QualTech, an industry event sponsored by the Centers for Medicare & Medicaid Services (CMS) through its Center for Clinical Standards and Quality (CCSQ). QualTech is designed to surface innovative technology solutions that address key healthcare quality priorities.CMS received more than 300 submissions across four QualTech opportunity areas and selected eight finalists. COPE Health Solutions.
CMS Energy is rated 'hold' with a $54/share price target, reflecting limited upside at current valuations. CMS's $24B capital plan introduces funding, regulatory, and dilution risks that could constrain earnings and shareholder returns. The company's 3.3% yield is unattractive versus risk-free rates, and Michigan-only operations heighten concentration and regulatory risks.
Benchmark CMS against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for CMS Energy Corporation (CMS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $69.18 | $21.69B | 24.85 | 13.63% | 9.72% | 8.62% | 3.19% | |
| $115.87 | $37.74B | 21.04 | 13.96% | 17.54% | 12.45% | 3.02% | |
| $87.54 | $20.18B | 19.49 | 1.65% | 16.7% | 10.18% | 3% | |
| $82.73 | $5.09B | 31.20 | 6.38% | 9.48% | 5.66% | 3.18% | |
| $78.44 | $3.29B | 18.77 | -1.99% | 13.45% | 9.33% | 2.67% | |
| $40.23 | $3.32B | 13.65 | 1.34% | 12.75% | 8.87% | 4.88% |
CMS Energy Corporation (CMS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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CMS Energy Corporation (CMS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 27, 2026·SEC
Jul 28, 2026·SEC
Jun 3, 2026·SEC
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CMS Energy Corporation (CMS) stock FAQ — growth, dividends, profitability & financials explained
CMS Energy Corporation (CMS) reported $8.97B in revenue over the trailing twelve months. Revenue was $8.54B in fiscal year 2025. That is 97% more than the $4.32B of fiscal year 1996.
CMS Energy Corporation (CMS) grew revenue by 8.2% over the trailing twelve months, compared with the twelve months before.
Yes. CMS Energy Corporation (CMS) earned $872.0M in net income over the trailing twelve months (a 9.7% net margin).
Yes. CMS Energy Corporation (CMS) pays a dividend that yields 3.19% at the current price, a moderate yield.
CMS Energy Corporation (CMS) had a return on equity (ROE) of 8.6% over the trailing twelve months. That is below the market's typical 10-15%.
CMS Energy Corporation (CMS) had negative free cash flow of $1.74B over the trailing twelve months.
CMS Energy Corporation (CMS) has a dividend payout ratio of 62%. This suggests the dividend is well-covered and sustainable.
