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CMS

CMS Energy Corporation

CMS

NYSE·Utilities·Regulated Electric·Mkt cap $23.5B

$77.73

+2.38%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$68.63 - $80.36

P/E

21.30

Fwd P/E

20.17

Beta

0.35

Div Yield

2.93%

Avg Vol

3.1M

Shares Out

308.9M

Mkt Cap

$23.5B

Price action

Price chart

Up 8.9% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

Bull Case

4 reasons

  • Comprehensive Michigan service territory
  • Diversified energy generation mix
  • Regulated utility model ensuring stable returns
  • Strategic investment in renewable energy infrastructure

Bear Case

1 risk

  • Low volatility (beta 0.4).

Growth

Stable outlook

Renewable energy transition

Value

Fairly valued vs Electric Utilities peers

Momentum

Stable

-3.4% over 3m

Quality

Excellent

Excellent business quality

Dividend

Solid

2.93% yield

Earnings track record

Latest print - beat on both lines

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Apr 22, 2026

Q2 26 RECAP

APR 28, 2026

Reported EPS of $1.13 vs $1.11 consensus (+1.8% surprise). Revenue of $2.7B vs $2.5B expected (+11.1%). Beat on both top and bottom lines.

EPS beat +1.8%
Rev beat +11.1%
Double beat

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+1.8%

Next: Apr 22, 2026

Revenue trend · last 8Q

+2%

+12%

+14%

+16%

+12%

+12%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$1.6B

$1.7B

$2.0B

$2.4B

$1.8B

$2.0B

$2.2B

$2.7B

Margins · last 8Q

Gross

56.5%

Operating

17.9%

Profit

12.4%

Wall Street consensus

10 analysts · 60% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

6

60%

Hold

4

40%

Sell

0%

Median Price Target

$82.00

+5.5% vs $77.73

Low $77.00
Median $82.00
High $85.00

Latest: BMO Capital · Jun 4, 2026

4 analysts covering

vs Industry

How CMS stacks vs Regulated Electric

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.