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CMS Energy Corporation - CMS STOCK NEWS

Welcome to our dedicated page for CMS Energy Corporation news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS Energy Corporation stock.

CMS Energy Corporation (NYSE: CMS) is a diversified energy holding company with a primary focus on providing essential services in Michigan. The company's operations are segmented into three principal businesses: Consumers Energy, CMS Enterprises, and independent power generation.

Consumers Energy is the regulated utility arm of CMS Energy, supplying natural gas to approximately 1.8 million customers and electric service to around 1.9 million customers across Michigan. This subsidiary is pivotal in maintaining energy reliability and supporting the state's economic growth, especially through its robust infrastructure and customer service models.

CMS Enterprises manages the company's involvement in wholesale power generation, with an increasing emphasis on renewable energy projects. This division is essential for CMS Energy's strategic shift towards clean energy solutions. Recent initiatives include the development of solar power plants and the company's commitment to add 8,000 megawatts of solar energy by 2040.

CMS Energy's financial health reflects steady growth and strong investor confidence. In 2023, the company reported earnings per share (EPS) of $3.01, up from $2.85 in 2022, with adjusted EPS at $3.11. The annual dividend was increased by 11 cents per share to $2.06 for 2024. Moreover, CMS Energy has raised its 2024 adjusted earnings guidance to a range of $3.29 to $3.35 per share.

Significant recent developments include the sale of the Appliance Service Plan (ASP) business to Oncourse Home Solutions, a strategic move to streamline operations and focus on core energy services. This transaction is expected to close in the first half of 2024 and is poised to enhance the growth prospects of both companies involved.

Additionally, CMS Energy has been active in community engagement through initiatives like the Put Your Town on the Map Competition, which offers grants to support projects in small Michigan communities. Consumers Energy Foundation, the charitable arm of Consumers Energy, has been instrumental in these efforts, contributing over $11 million to Michigan nonprofits in 2023 alone.

CMS Energy's commitment to sustainability and clean energy is further demonstrated by its agreements with major corporations like Walmart to power their facilities with renewable energy. This partnership reflects the company's role in driving Michigan's clean energy future while adding significant new capacity to the grid.

Investors can stay informed about the company's performance and strategic outlook through regular webcasts and updates available on CMS Energy's website.

For more information on CMS Energy, visit www.cmsenergy.com.

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The cities of Grand Rapids and Kalamazoo have joined Consumers Energy's Renewable Energy Program (REP), marking a significant step towards their climate goals. The program allows customers to match 100% of their energy use with wind and solar power. This partnership supports Consumers Energy's Clean Energy Plan, which aims to eliminate coal by 2025 and achieve net-zero carbon emissions.

Kalamazoo aims to reduce carbon emissions to net-zero by 2050, while Grand Rapids plans to power all municipal operations with renewable energy by 2025. The REP already includes 3 dozen participants, including major corporations and the State of Michigan. In 2025, the program will expand to include residential and small business customers.

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Consumers Energy has received approval from the Michigan Public Service Commission for an expanded customer-powered clean energy program. The new Renewable Energy Program, set to launch in 2025, will allow all customers to match 100% of their energy use with cost-effective wind and solar power. Key features include:

1. Removal of caps on utility-scale renewable energy programs
2. Opening large business program to residential and small business customers
3. Introduction of 'Green Giving', enabling subscribers to share clean energy benefits with others

This initiative aligns with Consumers Energy's Clean Energy Plan, which aims to eliminate coal by 2025, achieve net-zero carbon emissions, and meet 90% of customers' energy needs through clean sources.

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Consumers Energy (CMS) is offering public tours of its J.H. Campbell Complex in West Michigan on September 21, 2024, marking the beginning of the end for its last coal-fired facility. The complex is scheduled to close by June 1, 2025, as part of the company's Clean Energy Plan to achieve a carbon-neutral energy grid by 2040. This closure will make Consumers Energy one of the first U.S. utility providers to eliminate coal burning.

The Campbell complex consists of three units built between 1962 and 1980. It's the last of 12 coal-fired units that Consumers Energy has been closing since 2016. The company is committed to a just transition for employees and plans to redevelop the site after demolition in 2026 or later. To replace Campbell's energy output, Consumers Energy purchased the Covert Generating Station and continues to develop clean energy projects, including wind farms and solar energy centers.

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Consumers Energy (CMS) is promoting safe digging practices for National Safe Digging Day on August 11. Holly Bowers, VP of gas engineering and supply, emphasizes the importance of contacting 8-1-1 before any digging project, as it's both a safety measure and a legal requirement. Key tips include:

  • Call MISS DIG (8-1-1) or visit MISSDIG811.org at least 3 business days before digging
  • Avoid digging within 4 feet of marked lines
  • Use hand tools near marked lines

The company also provides guidelines for dealing with natural gas leaks, including leaving the area immediately and calling 9-1-1 and 800-477-5050. MISS DIG has relocated to Lansing to expand its community education efforts on safe digging practices.

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Consumers Energy, the principal subsidiary of CMS Energy, has declared a quarterly dividend on its preferred stock. The Board of Directors announced a $1.125 per share dividend on the $4.50 preferred stock (NYSE: CMS_pb), payable on October 1, 2024, to shareholders of record as of September 3, 2024. CMS Energy, traded on the NYSE under the ticker CMS, is a Michigan-based energy provider with Consumers Energy as its primary business. The company also operates independent power generation businesses. Investors can find additional dividend information, including tax status, in the Tax Information section of CMS Energy's website.

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CMS Energy's Board of Directors has declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. The dividend is payable on October 15, 2024, to shareholders of record as of October 1, 2024. The stock trades under the ticker CMS PRC on the NYSE. CMS Energy, headquartered in Michigan, primarily operates through its Consumers Energy business and also manages independent power generation ventures. Investors can find additional dividend information, including tax status, on the company's website at cmsenergy.com.

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NorthStar Clean Energy and General Motors have launched Newport Solar, a 180 MW project in Arkansas designed to power GM facilities in the MISO territory. The project, one of the largest single-axis photovoltaic installations in Arkansas, will supply renewable electricity to GM's assembly plants in Michigan and Missouri. Set to produce approximately 410,000 megawatt-hours of renewable energy annually, it's equivalent to powering over 30,000 Arkansas homes.

Under a 15-year renewable energy purchase agreement, the project's impact is comparable to planting nearly 5 million trees. This collaboration is part of GM's strategy to reduce Scope 2 emissions globally and NorthStar's commitment to providing renewable energy solutions. The ribbon-cutting ceremony is scheduled for August 15, 2024.

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CMS Energy reported Q2 2024 earnings per share of $0.65, down from $0.67 in Q2 2023. Adjusted EPS for Q2 2024 was $0.66, compared to $0.75 in Q2 2023. For the first half of 2024, reported EPS was $1.61, up from $1.36 in 2023, while adjusted EPS increased to $1.63 from $1.45. The company reaffirmed its 2024 adjusted earnings guidance of $3.29 to $3.35 per share and long-term adjusted EPS growth of 6 to 8 percent, with confidence towards the high end. CMS Energy's CEO, Garrick Rochow, highlighted the company's focus on electric and gas system investments to deliver value for customers, including the electric Reliability Roadmap, Natural Gas Delivery Plan, and Clean Energy Plan.

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Consumers Energy (CMS) is intensifying its efforts to enhance power reliability by clearing trees along over 7,000 miles of power lines in 2024. This initiative is part of the company's Reliability Roadmap, aimed at reducing outages and improving service. The strategy involves:

1. Prioritizing circuits prone to vegetation-related outages
2. Implementing a seven-year plan for tree clearing across high and low-voltage lines
3. Projecting to maintain the 7,000+ miles per year clearing rate

This aggressive approach, started three years ago, is a key component of Consumers Energy's goal to reduce power outages and restore service within 24 hours, regardless of circumstances. The company serves 6.8 million Michigan residents and emphasizes the critical role of forestry work in improving electric service reliability.

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CMS Energy's Board of Directors has declared a quarterly dividend of 51.50 cents per share on the company's common stock. The dividend is payable on August 30, 2024, to shareholders of record as of August 2, 2024. CMS Energy, traded on the NYSE under the symbol CMS, is a Michigan-based energy company with Consumers Energy as its primary business. The company also operates independent power generation businesses. Shareholders can find additional dividend information, including tax status, in the Tax Information section of CMS Energy's website.

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FAQ

What is the current stock price of CMS Energy Corporation (CMS)?

The current stock price of CMS Energy Corporation (CMS) is $70.26 as of September 17, 2024.

What is the market cap of CMS Energy Corporation (CMS)?

The market cap of CMS Energy Corporation (CMS) is approximately 21.1B.

What services does CMS Energy provide?

CMS Energy provides natural gas and electric services through Consumers Energy, and engages in wholesale power generation through CMS Enterprises.

How many customers does Consumers Energy serve?

Consumers Energy serves approximately 1.8 million natural gas customers and 1.9 million electric customers in Michigan.

What are CMS Energy's recent financial highlights?

In 2023, CMS Energy reported an EPS of $3.01 and an adjusted EPS of $3.11. The annual dividend was increased to $2.06 per share for 2024.

What is the significance of CMS Energy's sale of the Appliance Service Plan business?

The sale to Oncourse Home Solutions allows CMS Energy to focus on its core energy services, while Oncourse can grow its business in appliance protection.

What are CMS Energy's sustainability initiatives?

CMS Energy is committed to adding 8,000 megawatts of solar energy by 2040 and has agreements with corporations like Walmart to supply renewable energy.

How does CMS Energy support community projects?

The Consumers Energy Foundation funds initiatives like the Put Your Town on the Map Competition, providing grants to support small community growth.

What is the role of CMS Enterprises?

CMS Enterprises is involved in wholesale power generation and focuses on renewable energy projects to support CMS Energy's clean energy goals.

How can investors stay updated on CMS Energy's performance?

Investors can stay updated through regular webcasts and reports available on CMS Energy's website.

What impact does CMS Energy's clean energy plan have?

The clean energy plan aims to eliminate coal by 2025, achieve net-zero carbon emissions, and meet 90% of customers' energy needs through clean sources.

How can I learn more about CMS Energy?

For more information, visit CMS Energy's website at www.cmsenergy.com.

CMS Energy Corporation

NYSE:CMS

CMS Rankings

CMS Stock Data

21.06B
298.73M
0.49%
95.45%
2.74%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
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