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 announce its 2021 second quarter results and provide a business financial outlook on July 29, 2021, at 9:30 a.m. EDT. The presentation will be accessible via webcast on CMS Energy's website, with an audio replay available three hours post-presentation and archived for 30 days. As a Michigan-based energy provider, CMS Energy primarily operates through Consumers Energy and holds independent power generation businesses. Investors can find more information in the Investor Relations section on their website.
Consumers Energy has announced a bold initiative to eliminate coal as a fuel source by 2025, significantly ahead of its previous schedule. This move positions the company as a leader in Michigan's clean energy transformation. The plan aims to utilize 90% clean energy by 2040 and develop 8,000 megawatts of solar energy. The closure of coal-fired units at the Campbell complex is projected to save customers up to $650 million by 2040.
Consumers Energy warns Michigan residents about ongoing energy scams, advising on how to recognize and report them. Scammers impersonate utility representatives, demanding immediate payments through specific methods like prepaid cards. Chris Bush, director of corporate security, emphasizes the importance of customer safety. Residents are urged to avoid sharing personal information and to verify identities of those claiming to be from Consumers Energy. The utility supplies energy to 6.8 million residents across Michigan.
CMS Energy (NYSE: CMS) announced the sale of its subsidiary, EnerBank USA, to Regions Bank for $960 million. The deal is expected to close in Q4 2021, pending regulatory approvals. CMS has reaffirmed its 2021 adjusted earnings guidance of $2.83 - $2.87 per share and introduced 2022 guidance of $2.85 - $2.87 per share, excluding EnerBank. The CEO highlighted that this transaction enhances CMS’s risk profile and reinforces its long-term growth prospects of 6 to 8 percent adjusted EPS growth. Proceeds will fund safety and reliability initiatives in clean energy transformation.
Consumers Energy has launched the PowerMIFleet program to assist Michigan businesses in transitioning to electric vehicles (EVs). The initiative allocates $3 million in rebates for charging infrastructure, aiming to promote carbon-free EV use. This program supplements the existing PowerMIDrive, which has provided over 800 rebates for charging stations in two years. Consumers Energy plans to establish 200 fast charging sites and over 2,000 chargers statewide in the next three years.
Consumers Energy is launching a new Summer Peak Rate effective June 1, allowing 1.6 million residential electric customers in Michigan to lower their energy bills. This initiative, part of the Clean Energy Plan, encourages households to shift energy use away from peak hours, from 2 to 7 p.m. weekdays. Customers may experience an increase of $2 per month or less, with potential savings from energy-efficient practices. The company aims to eliminate the need for new power plants by optimizing energy consumption.
CMS Energy has announced the retirement of Glenn Barba, vice president, controller, and chief accounting officer, effective September 1, 2021. Scott McIntosh, currently vice president of tax, will succeed him. Barba has been a key player at CMS for over two decades, significantly contributing to the company's solid financial performance. McIntosh has been with the company since 2004, managing various regulatory and tax matters. CMS Energy operates primarily through Consumers Energy and offers independent power generation services.
The Board of Directors of CMS Energy has announced a quarterly dividend of $1.125 per share on its preferred stock, which is payable on July 1, 2021. Shareholders of record as of June 7, 2021 will receive this payment. CMS Energy, based in Michigan, operates Consumers Energy, its principal subsidiary, alongside independent power generation businesses. This dividend declaration underscores the company's commitment to providing returns to its investors.
The Consumers Energy Foundation has awarded $500,000 to four environmental projects in Michigan, celebrating Earth Month. This funding is a part of its commitment to sustainability and clean energy, aiming for net-zero carbon emissions by 2040. The recipients include Huron Pines Resource Conservation Council, Au Sable Institute, Southwest Michigan Land Conservancy, and Bay Area Community Foundation, each receiving grants to enhance land, water, and air quality across the state. The Foundation's total grant budget for the year is $1.5 million, with more awards scheduled.
CMS Energy reported first-quarter earnings per share of $1.21 for 2021, up from $0.85 in 2020. Adjusted EPS also increased to $1.21 from $0.86 year-over-year. Customer investments and cost performance were key drivers of this growth. The company reaffirmed its 2021 guidance for adjusted earnings between $2.83 and $2.87 per share, reflecting a growth rate of 6% to 8%. CMS Energy is committed to a $13.2 billion investment plan focused on renewable energy and improving system safety and reliability.