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's Board of Directors announced a quarterly dividend of 46 cents per share on its common stock, CUSIP: 125896100. This dividend is payable on November 30, 2022, to shareholders on record as of November 4, 2022. The company, based in Michigan, focuses on energy production through its primary business, Consumers Energy, and operates independent power generation assets.
The Consumers Energy Foundation has announced two grants totaling $500,000 to Cristo Rey Community Center and Roscommon County United Way as part of its People Awards. These grants aim to enhance programs that address basic needs and economic security for Michigan residents. Cristo Rey received $250,000 for infrastructure improvements to its food and personal needs pantries, while Roscommon County United Way received $250,000 to establish a mobile soup kitchen for low-income residents. This initiative is part of the Foundation's broader commitment, with a total of $1.5 million allocated in 2022.
CMS Energy announced it will release its 2022 third quarter results on October 27, 2022, at 9:30 a.m. EDT. The release will include a comprehensive business and financial outlook. The announcement is crucial for investors monitoring the energy sector. A webcast will be available on cmsenergy.com, with an audio replay accessible three hours post-event for 30 days. CMS Energy operates primarily through its subsidiary, Consumers Energy, focusing on energy services in Michigan.
Consumers Energy has completed an upgrade to the Freedom Compressor Station in Michigan, investing $260 million as part of its $11 billion Natural Gas Delivery Plan. The installation of new, high-tech compressor units replaces outdated equipment, enhancing gas flow monitoring and efficiency to reduce emissions. Serving over 4 million customers, the station is essential for managing natural gas supply, especially during winter months when demand peaks. The upgrade aligns with Consumers Energy's commitment to a cleaner, more resilient natural gas future.
CMS Energy announces the retirement of Guy Packard, VP of Electric Operations, after 37 years, effective September 16. Chris Laird will succeed him, bringing extensive experience in electric operations. The company also introduces a new role, VP of Renewables Development, appointing David N. Hicks, effective September 21. Hicks has a strong background in renewable energy, having developed over 11,000 megawatts of clean energy projects. The company aims to expand its renewable portfolio significantly with a plan to add 8,000 megawatts of solar and 550 megawatts of battery storage by 2040.
Consumers Energy and the State of Michigan announced a 20-year agreement to power 1,274 government buildings exclusively with clean energy, marking a significant commitment to environmental sustainability. This initiative will generate approximately 68 megawatts of emission-free renewable energy, equating to the greenhouse gas emissions from over 20,000 cars. The plan supports Consumers Energy's Clean Energy Plan, aiming to close coal-fired plants by 2025 and achieve carbon neutrality by 2040. This partnership positions Michigan as a leader in clean energy transformation.
Consumers Energy has initiated a public feedback campaign concerning its 13 dams on five Michigan rivers. This initiative aims to gather opinions from local communities to inform future decisions as dam licenses expire between 2034 and 2041. The company has engaged Public Sector Consultants to facilitate surveys and community meetings from August to October 2022. Public input will guide operational strategies, emphasizing the significance of safety, regulatory compliance, and community impacts in their long-term planning.
The Board of Directors of CMS Energy has declared a dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on October 15, 2022, to shareholders of record by October 1, 2022. CMS Energy, primarily operating through Consumers Energy, is based in Michigan and also holds independent power generation operations. This dividend signifies the company's commitment to returning value to its shareholders.
The Board of Directors of 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). The dividend will be payable on October 1, 2022, to shareholders of record by the end of business on September 6, 2022. This declaration reflects the company's commitment to providing returns to its shareholders while continuing its operations in Michigan's energy sector.
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.