CMS ENERGY CORP Stock Price, News & Analysis

On January 8, 2021, Consumers Energy, Pine Gate Renewables, and Kayne Anderson Capital Advisors announced the launch of eight new solar energy projects in Genesee and Saginaw Counties, Michigan. These projects, which have a combined capacity of 16 megawatts, are part of Consumers Energy's commitment to a coal-free and carbon-neutral future. The solar farms will produce renewable electricity under 20-year agreements with Consumers Energy. The initiative also supports local job creation and tax revenues.

The Consumers Energy Foundation has announced over $480,000 in grants to support Michigan nonprofits responding to community needs during the COVID-19 pandemic. This brings the total contributions to $5.4 million since March 2020. Key allocations include $200,000 for the Food Bank Council of Michigan and various donations to organizations aiding food insecurity and shelter. The Foundation aims to bolster communities as the state strives to overcome pandemic challenges, promoting hope and recovery.

Consumers Energy is contributing $500,000 to support Michigan's local businesses during the holiday season through its "Our Town" gift card initiative. The program offers a dollar-for-dollar match on gift cards purchased via local Chambers of Commerce, effectively doubling spending power in communities. Grants of $3,000 to $40,000 are being provided to participating organizations. In addition, Consumers Energy has donated nearly $5 million to nonprofit and economic development organizations throughout the year, further supporting small businesses impacted by the COVID-19 pandemic.

CMS Energy has appointed LeeRoy Wells Jr. as the new senior vice president of operations, effective December 1, 2020, following the recent appointment of Garrick Rochow as president and CEO. Previously the vice president of gas operations, Wells has a strong background in gas and electric operations, emphasizing safety and operational excellence. Tonya Berry, with 20 years of experience in Lean methodologies, will take over as vice president of gas operations on the same date. CMS Energy serves 1.8 million customers in Michigan.

Consumers Energy has successfully completed the Saginaw Trail Pipeline, a four-year, $610 million project that upgraded natural gas infrastructure across Saginaw, Genesee, and Oakland counties. The project replaced 78 miles of old pipeline with 90 miles of new, larger ones, enhancing safety and reliability. Construction did not interrupt service. Environmental efforts included relocating over 100,000 turtles and planting habitats for pollinators. Consumers Energy, Michigan's largest energy provider, is a subsidiary of CMS Energy.

CMS Energy announced that Patti Poppe will leave her role as CEO on December 1, 2020, to lead PG&E Corporation. Garrick Rochow, current EVP of operations, will succeed her. Poppe has led CMS Energy and Consumers Energy since 2016. Chairman John G. Russell praised Rochow for his leadership skills and industry experience, ensuring consistent performance through strong succession planning. Rochow has been with CMS Energy for 17 years and is committed to maintaining operational and financial stability while fostering a respectful work environment.

CMS Energy has appointed Amanda Wagenschutz as the new Vice President of People and Culture Operations, effective November 16, 2020. Wagenschutz, who has been with Consumers Energy since 2012, will lead the operationalization of the company's Talent Strategy and enhance employee experiences. With a focus on a purpose-driven culture, her leadership aims to foster a supportive environment for all employees. Amanda holds degrees from Oakland University and Walsh College, and is a certified Senior Professional in Human Resources.

The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, has announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock (NYSE: CMS_pb). This dividend is set to be paid on Jan. 1, 2021, to shareholders who are on record by the close of business on Dec. 7, 2020. CMS Energy operates an electric and natural gas utility, as well as independent power generation businesses.