CMS Energy continues to leverage its Michigan-based regulated utility model to drive consistent revenue growth, evidenced by an 11.6% year-over-year increase in 2026Q1. While the company's aggressive $1.0 billion quarterly capital expenditure program supports ...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth reached 11.6% in 2026Q1, supported by effective rate recovery mechanisms that maintained an operating margin of 17.9%.
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 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest 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 |
Q4 2025 Oct 30, 2025 | $0.93+8.1% vs $0.86 | $2.0B+9.5% vs $1.8B |
Shares of CMS Energy Corporation (NYSE: CMS - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $65.67 and last traded at $65.9950, with a volume of 2050103 shares. The stock had previously closed at $65.92. Analyst Ratings Changes Several research firms have commented on CMS.
Corient Private Wealth LP reduced its stake in CMS Energy Corporation (NYSE: CMS) by 5.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 147,623 shares of the utilities provider's stock after selling 8,599 shares during the quarter. Corient Private Wealth LP's holdings
CMS Energy remains positioned to become a Dividend Aristocrat early next decade. The regulated utility topped the analyst consensus for both operating revenue and adjusted EPS in the second quarter. CMS Energy possesses a BBB S&P credit rating with a stable outlook.
Nykredit A S bought a new stake in CMS Energy Corporation (NYSE: CMS) in the undefined quarter, according to its most recent disclosure with the SEC. The fund bought 17,941 shares of the utilities provider's stock, valued at approximately $1,372,000. A number of other institutional investors and hedge funds also recently bought and
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 |
|---|---|---|---|---|---|---|---|
| $64.27 | $20.15B | 18.21 | 13.63% | 12.54% | 11.6% | 3.43% | |
| $102.83 | $33.49B | 21.29 | 13.96% | 16.69% | 11.84% | — | |
| $79.27 | $18.27B | 21.66 | 1.65% | 15.26% | 9.01% | — | |
| $69.87 | $4.3B | 23.77 | 6.38% | 10.13% | 5.92% | — | |
| $90.23 | $3.79B | 13.78 | -1.99% | 14.83% | 10.43% | — | |
| $36.00 | $2.97B | 15.13 | 1.34% | 11.83% | 8.29% | — |
CMS Energy Corporation (CMS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
CMS Energy Corporation (CMS) SEC filings — annual & quarterly reports (10-K, 10-Q)
Jul 28, 2026·SEC
Jun 3, 2026·SEC
May 13, 2026·SEC
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CMS Energy Corporation (CMS) stock FAQ — growth, dividends, profitability & financials explained
CMS Energy Corporation (CMS) reported $8.81B in revenue for fiscal year 2025. This represents a 104% increase from $4.32B in 1996.
CMS Energy Corporation (CMS) grew revenue by 13.6% over the past year. This is steady growth.
Yes, CMS Energy Corporation (CMS) is profitable, generating $1.03B in net income for fiscal year 2025 (12.5% net margin).
Yes, CMS Energy Corporation (CMS) pays a dividend with a yield of 3.43%. This makes it attractive for income-focused investors.
CMS Energy Corporation (CMS) has a return on equity (ROE) of 11.6%. This is reasonable for most industries.
CMS Energy Corporation (CMS) had negative free cash flow of $1.91B in fiscal year 2025, likely due to heavy capital investments.
CMS Energy Corporation (CMS) has a dividend payout ratio of 62%. This suggests the dividend is well-covered and sustainable.
