Welcome to our dedicated page for CMS ENERGY news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS ENERGY stock.
CMS Energy Corporation (NYSE: CMS) is a Michigan-based energy company whose primary business is Consumers Energy Company, an electric and gas utility. Consumers Energy is described as Michigan's largest energy provider, supplying natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties. In addition to its regulated utility operations, CMS Energy owns and operates independent power generation businesses, including wholesale power generation with contracted renewable energy.
This news page aggregates company and subsidiary news releases and market announcements related to CMS Energy and Consumers Energy. Readers can follow updates on topics such as customer assistance initiatives, community investments, regulatory and legal developments, capital markets activity and financial performance. Recent news has highlighted Consumers Energy's programs to help customers manage energy costs, including a $5 million company-funded investment to support customers and communities across Michigan, as well as specific safeguards and bill credits for seniors to help them stay safe and warm during winter.
Other news items showcase the Consumers Energy Foundation's Prosperity Awards, which provide grant funding for community projects in Michigan, and environmental initiatives such as tree planting grants designed to improve safety and electric reliability by planting the right trees in the right places. Regulatory and planning topics also appear, including Consumers Energy's support for Michigan Public Service Commission orders that set guidelines for large-load customers like data centers and its intention to file an updated Energy Supply Plan covering natural gas, renewable resources and battery storage.
Investors and observers will also find CMS Energy corporate news, including announcements of quarterly financial results, adjustments to earnings guidance, dividend declarations on preferred stock and details of capital markets transactions such as convertible senior note offerings and tender offers for outstanding bonds. This page provides a centralized view of how CMS Energy and Consumers Energy communicate about operations, financial performance, customer programs and community engagement over time.
CMS Energy will reveal its 2022 year-end results along with a business and financial outlook on February 2, 2023, at 9:30 a.m. EST. A webcast of the event will be available on its website, with an audio replay accessible after three hours, archived for 30 days.
CMS Energy operates in Michigan, primarily through Consumers Energy, and is listed on the NYSE under the symbol CMS. For more details, visit cmsenergy.com.
Consumers Energy has invested $164 million to upgrade the South Oakland Macomb Network pipeline, enhancing the delivery of natural gas to nearly 2 million Michigan homes and businesses. This project, completed in late 2022, involved replacing almost 30 miles of old pipes and installing 17 miles of new infrastructure. The upgrades will enable faster and safer gas delivery while mitigating environmental impact. These efforts align with the company's long-term Natural Gas Delivery Plan and commitment to modernizing its operations.
Consumers Energy is launching an independent study in 2023 to assess the economic impact of its 13 river hydro facilities on local communities in Michigan. This initiative follows 2022 community engagement meetings. The study aims to inform decisions regarding the future of the dams, whose federal licenses will expire starting in 2034. Options under consideration include relicensing, selling, removing, or replacing the dams. Public Sector Consultants will conduct the study, focusing on the economic contributions of each facility to community recreational and tax bases.
Consumers Energy has allocated $7.25 million to assist customers with heating bills in Michigan, supporting vulnerable families ahead of winter. The funds will be distributed through eight nonprofit organizations, including The Salvation Army and United Way. This initiative comes as natural gas prices rise significantly across the Midwest, prompting the company's commitment to help customers managing their energy expenses. In 2022, Consumers Energy and its foundation provided over $12 million in assistance for energy bills and basic needs.
CMS Energy has announced a dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend will be paid on Jan. 15, 2023, to shareholders recorded by the close of business on Jan. 1, 2023. The announcement reaffirms the company’s commitment to returning value to its shareholders. CMS Energy, based in Michigan, operates primarily through Consumers Energy and manages independent power generation assets.
Consumers Energy, a subsidiary of CMS Energy, has declared a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS-PB). This dividend will be payable on January 1, 2023, to shareholders of record as of the close of business on December 5, 2022. This announcement reflects the company's ongoing commitment to returning capital to shareholders and highlights its robust financial standing.
ESS Inc. (NYSE: GWH) has partnered with Consumers Energy (NYSE: CMS.PRB), Michigan's largest energy provider, to deploy a battery system for a solar and storage microgrid at a gas compression facility. This project marks the first use of an iron flow battery in such an application, showcasing the Energy Warehouse platform's capabilities for long-duration energy storage. The initiative supports Michigan's goal for 1,000 MW of storage by 2025, contributing to a sustainable energy future.
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CMS Energy reported third-quarter earnings per share (EPS) of $0.56, down from $0.64 in Q3 2021. Adjusted EPS for Q3 2022 was $0.56, slightly up from $0.54 in Q3 2021. Year-to-date, 2022 EPS stands at $2.27 compared to $2.46 for the same period last year. However, adjusted year-to-date EPS improved to $2.29 from $2.18. The company raised its 2022 adjusted EPS guidance to a range of $2.87 to $2.89, and provided preliminary 2023 guidance of $3.05 to $3.11. The firm maintains a long-term adjusted EPS growth target of 6-8%. The CEO highlighted economic development initiatives, including a new EV battery factory in Michigan.