CMS ENERGY CORP Stock Price, News & Analysis

CMS Energy reported a Q2 2022 EPS of $0.50, down from $0.61 in Q2 2021. Adjusted EPS for the quarter was $0.53, compared to $0.55 the previous year. For the first half of 2022, the company achieved $1.71 EPS, down from $1.82 in 2021, while adjusted EPS rose to $1.73 from $1.64. CMS reaffirmed its 2022 adjusted earnings guidance of $2.85 to $2.89 per share and long-term growth of 6-8%. The firm secured regulatory approvals for its natural gas rate case and plans to eliminate coal generation by 2025, enhancing its financial outlook.

The Board of Directors of CMS Energy has declared a quarterly dividend of 46 cents per share on its common stock. This dividend is payable on August 31, 2022, to shareholders of record on August 5, 2022. CMS Energy, based in Michigan, primarily operates through Consumers Energy and has interests in independent power generation businesses.

Consumers Energy has provided over 2,000 incentives for electric vehicle (EV) chargers at various locations in Michigan in less than three years. The number of EVs within the company's territory has surged 18% in the past quarter to over 18,000 vehicles. Additionally, the use of fast chargers has increased sixfold, reaching 18,000 sessions in the last year. Consumers Energy aims to power 1 million EVs by 2030 and is committed to transitioning to a carbon-neutral grid by 2040, as part of its comprehensive Clean Energy Plan.

CMS Energy will announce its 2022 second quarter results along with a business and financial outlook on July 28, 2022, at 9:30 a.m. EDT. A webcast of the presentation will be accessible through cmsenergy.com, with an audio replay available three hours post-event for 30 days. CMS Energy operates primarily through Consumers Energy and also has independent power generation businesses.

Consumers Energy has secured approval for a $170 million investment aimed at modernizing Michigan's natural gas system, enhancing safety and reliability for customers. This investment is part of a broader $11 billion Natural Gas Delivery Plan over ten years, focusing on upgrading infrastructure and replacing aging pipes. The company is committed to investing $1 billion annually, creating jobs, and supporting affordability through the largest underground storage system in the nation. Natural gas rates remain unchanged since October 2020, with prices for residential customers 23% lower than the national average.

Consumers Energy has received regulatory approval from the Michigan Public Service Commission to accelerate its transition away from coal, targeting to end coal use by 2025, which is 15 years ahead of schedule. The updated Clean Energy Plan will retire multiple coal plants and enhance system reliability through natural gas and solar investments, aiming for 90% of capacity from clean sources by 2040. The plan, supported by various stakeholders, is expected to save customers approximately $600 million by 2040 while promoting environmental sustainability.

Consumers Energy has announced agreements to acquire 300 megawatts of clean energy from two new solar projects in Michigan, capable of powering 150,000 homes. These projects, Confluence Solar and Heartwood Solar, are set to begin operations by the end of 2024 and will contribute to the company's Clean Energy Plan, which aims to eliminate coal by 2025 and achieve net-zero emissions by 2040. The projects will generate significant local tax revenues and create around 250 jobs in Genesee and Hillsdale counties, enhancing community prosperity.

Consumers Energy announced plans to collaborate with landowners in Michigan to establish utility-scale solar power plants. The company aims to expand its solar capacity by 8,000 megawatts by 2040, contributing to its Clean Energy Plan, which seeks to eliminate coal and achieve net-zero carbon emissions. Approximately 1,100 megawatts of solar capacity is expected to be operational by 2024. This initiative will not only promote clean energy but also create economic opportunities for local communities and landowners, enhancing job creation and revenue generation.

CMS Energy has declared a quarterly dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on July 15, 2022, to shareholders of record as of the close of business on July 1, 2022. As a Michigan-based energy provider, CMS Energy continues to support its investors with this dividend declaration, reflecting its commitment to shareholder returns.