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.
Consumers Energy has committed $12 million to assist Michigan residents and small businesses impacted by the COVID-19 pandemic. The funds aim to support approximately 25,000 households and 1,000 small businesses with their energy bills. This initiative is part of a broader effort, with over $16 million allocated since March for pandemic-related support. The company has suspended energy shut-offs and is providing resources to help customers. Looking ahead, consumers can expect to pay 20% less next year compared to a decade ago for natural gas.
Consumers Energy has partnered with the Michigan Department of Natural Resources and a wildlife rehabilitator to provide a safe habitat for three orphaned whitetail deer fawns on its land in Southeast Michigan. The fawns, rescued from illegal captivity and vehicular accidents, were released into a remote area to minimize human interaction. The company has committed to continuing this environmental conservation effort by granting annual licenses for wildlife rehabilitation on its properties.
The Consumers Energy Foundation announced a $250,000 grant to Youth Opportunities Unlimited aimed at enhancing career readiness for 650 young adults in Southwest Michigan. This initiative will expand the Career Pathway Initiative in multiple counties, providing job training in high-demand fields. The grant is part of a larger $1.5 million allocation through the Foundation's People Awards. The Consumers Energy Foundation, Michigan's largest energy provider's charitable arm, contributed over $11.5 million to state nonprofits in 2019.
Consumers Energy employee Eric Florka survived a severe battle with COVID-19, spending 44 days hospitalized and losing 40 pounds. After recovering, he emphasizes the importance of protective measures like masking. Florka, who feels grateful for his life, urges others to heed health guidelines to prevent the virus's spread. He returned to full-time work and is committed to appreciating life daily. Consumers Energy serves 6.7 million Michigan residents, contributing to their welfare during the pandemic.
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Consumers Energy is collaborating with Central Michigan University and the Michigan Department of Natural Resources to support the recovery of endangered snuffbox mussels in the Grand River. The project involves propagating mussels at Webber Dam, utilizing a unique system for the first time in Michigan. This effort includes adding larval mussels to fish hosts for growth before release, contributing to improved water quality. Snuffbox mussels, listed as endangered since 2012, are crucial for filtering contaminants in their habitat. Consumers Energy, the largest energy provider in Michigan, is pivotal in facilitating this initiative.
Consumers Energy has dispatched over 50 personnel to Indiana to aid in restoring power to more than 40,000 residents affected by severe storms. The team includes 15 crews from various Lower Michigan service centers, as well as 12 contractor crews. The collaboration with NIPSCO, Indiana's local energy provider, aims to repair extensive damage caused by hurricane-force winds. Approximately 33,000 Consumers Energy customers in Michigan were also impacted, with restoration expected for most by 10 p.m. on Aug. 11, 2020. Consumers Energy is a principal subsidiary of CMS, serving 6.7 million residents in Michigan.
On August 6, 2020, Consumers Energy, a subsidiary of CMS Energy, 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, 2020, to shareholders of record by September 8, 2020. CMS Energy operates a significant electric and natural gas utility in Michigan alongside its independent power generation ventures, demonstrating a commitment to returning value to its shareholders.
CMS Energy reported a net income of $136 million or $0.48 per share for Q2 2020, up from $93 million or $0.33 per share in Q2 2019. Adjusted earnings per share also increased to $0.49. Key drivers included cost management and favorable weather conditions. The company reaffirmed its 2020 adjusted earnings guidance of $2.64 - $2.68 per share. Notable achievements include the appointment of a Chief Diversity Officer and provision of 100,000 free smart thermostats to aid residents during the pandemic.
Consumers Energy has launched its first PowerMIDrive fast charging stations for electric vehicles in four Michigan communities: Gaylord, Cadillac, Big Rapids, and Marshall. These stations can charge EV batteries from zero to 80% in about an hour, supporting the growing demand for electric vehicles in the state. The company plans to establish 30 more stations by early next year, with available rebates up to $70,000 for installation. The initiative aims to promote electric vehicle adoption and contribute to Michigan's economic growth as the state experiences over 20% year-over-year EV growth.