CMS Energy Corporation reports recurring developments across its Michigan energy business, with Consumers Energy as its principal utility subsidiary. Company news commonly covers earnings results and financial outlooks, common and preferred stock dividends, and updates tied to electric and natural gas service in Michigan.
Consumers Energy updates also include grid reliability, storm response technology, customer energy-efficiency and assistance programs, and regulatory discussions involving utility assets. CMS Energy also reports on its independent power generation businesses and capital-return actions involving listed common stock, preferred securities and depositary shares.
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.
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.