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 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 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.
Consumers Energy Foundation and Jackson YMCA announced reaching a $6 million fundraising milestone, successfully navigating the COVID-19 pandemic in 10 months. This achievement includes a $200,000 donation from local business owner Ric Walton, contributing to a total of $3 million raised since January. The Consumers Energy Foundation committed a matching pledge of $3 million, the largest in its history. Overall, the YMCA's campaign aims to enhance services with a new facility and has raised nearly $20 million to date.
Consumers Energy, based in Michigan, is launching a Basic Electric Lineworker Apprentice program aimed at military veterans with electrical experience. Participants will undergo 10 days of free training, with a starting wage of $35 per hour upon acceptance. The company has been recognized as a top workplace for veterans and ranks 3rd in the Military Times Best for Vets Employers 2020 list. The training will be conducted at the UWUA Power for America Training Center, and successful candidates will complete an 11-week climbing school to further develop their skills.
CMS Energy reported a net income of $218 million or $0.76 per share for Q3 2020, marking an increase from $207 million or $0.73 per share in Q3 2019. For the first nine months of 2020, net income rose to $597 million or $2.09 per share, up from $513 million or $1.81 per share year-over-year. The company reaffirmed its 2020 adjusted earnings guidance of $2.64 - $2.68 per share and introduced 2021 guidance of $2.82 - $2.86, reflecting 6-8% growth. CMS Energy emphasized its commitment to operational and financial strength amid the pandemic.
Consumers Energy Foundation has announced a $250,000 grant to Youth Solutions, aiming to enhance job skills for nearly 8,000 students in Michigan's Lower Peninsula. This initiative, part of the Jobs for Michigan's Graduates program, focuses on connecting youth to job opportunities and reducing employment barriers. The grant is one of two awarded through the Foundation's People Awards, contributing to a total of $1.5 million in grants. The Foundation is committed to supporting workforce development and addressing the education-employment gap in the state.