CMS Energy Appoints Sri Maddipati as New CFO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
CMS Energy announced Sri Maddipati, currently Consumers Energy's SVP and president of electric supply, will be named CMS Energy and Consumers Energy EVP and CFO. Sri will oversee Investor Relations, Treasury, Tax, Accounting, and Financial Planning. Chris Fultz, VP of low voltage distribution at Consumers Energy, will become the new SVP and president of electric supply. Chris will manage the company's electric supply business unit, which includes electric supply planning and strategy, market operations, generating plant operations and engineering, generation development and procurement.
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Analyst Views on CMS
Wall Street analysts forecast CMS stock price to rise
9 Analyst Rating
6 Buy
3 Hold
0 Sell
Moderate Buy
Current: 74.030
Low
71.00
Averages
79.11
High
85.00
Current: 74.030
Low
71.00
Averages
79.11
High
85.00
About CMS
CMS Energy Corporation is an energy company operating primarily in Michigan. It manages its businesses by the nature of services each provides and operates principally in three business segments: Electric Utility, Gas Utility and NorthStar Clean Energy. The Electric Utility segment consists of regulated activities associated with the generation, purchase, distribution, and sale of electricity in Michigan. The Gas Utility segment consists of regulated activities associated with the purchase, transmission, storage, distribution, and sale of natural gas in Michigan. The NorthStar Clean Energy segment consists of various subsidiaries engaging in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production. Its gas transmission, storage, and distribution system consists of 2,342 miles of transmission lines with 15 gas storage fields with a total storage capacity of 309 billion cubic feet (Bcf).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CMS Energy CFO Departure Weighs on Stock Confidence
- CFO Departure Impact: CMS Energy announced the immediate retirement of CFO Rejji Hayes, succeeded by Senior VP Sri Maddipati, with this unexpected departure likely undermining investor confidence and putting pressure on the stock price.
- Rating Downgrade: Jefferies downgraded CMS's rating from Buy to Hold, reducing the price target from $88 to $74, with analyst Julien Dumoulin-Smith highlighting the CFO's exit as a potential risk for EPS re-evaluation.
- Market Confidence Low: Analysts note that investor confidence is at a multi-year low, primarily due to the absence of data center announcements, potential NorthStar asset sales, and upcoming Michigan elections.
- Increased Competitive Pressure: CMS faces heightened market pressure compared to peer DTE in annual electric rate cases, which analysts believe will further impact its ability to regain relative valuation.
See More
CMS Energy Appoints New CFO and Electric Supply President
- Executive Appointment: Sri Maddipati has been appointed as the Chief Financial Officer of CMS Energy and Consumers Energy effective June 3, 2026, overseeing critical functions such as Investor Relations and Financial Planning, leveraging nearly 20 years of finance and operational experience to ensure a smooth leadership transition.
- Leadership in Electric Supply: Chris Fultz has been named Senior Vice President and President of Electric Supply on the same date, tasked with managing electric supply planning and market operations, and his extensive background in project management and natural gas operations is expected to enhance the execution of the company's long-term energy supply strategy.
- CFO Retirement Acknowledgment: Rejji Hayes will retire on June 3, with gratitude expressed for his leadership and contributions, highlighting his meaningful impact on employees, communities, and investors, reflecting the company's commitment to leadership transitions.
- Company Overview: CMS Energy is a Michigan-based energy provider with Consumers Energy as its primary business, also owning independent power generation operations, and it continues to focus on investor relations to enhance transparency and communication.
See More
CMS Energy Appoints New CFO and Electric Supply President
- Executive Appointment: CMS Energy announced that Sri Maddipati will become Chief Financial Officer on June 3, 2026, overseeing investor relations and financial planning, leveraging nearly 20 years of finance experience to ensure a smooth leadership transition and drive the company's future growth.
- Leadership in Electric Supply: Chris Fultz is appointed as President of Electric Supply on the same day, responsible for the strategic and operational management of the electric supply business unit, and his extensive experience in project management and natural gas operations will support the execution of the company's long-term energy supply blueprint.
- Succession and Retirement: Current CFO Rejji Hayes will retire on the same day, with CMS Energy expressing gratitude for his contributions, highlighting his positive impact on employees, communities, and investors, reflecting the company's commitment to strong leadership.
- Company Background: CMS Energy is a Michigan-based energy provider with Consumers Energy as its primary business, also owning independent power generation operations, and continuously focusing on investor relations to enhance transparency.
See More
Consumers Energy Expands Line Clearing Efforts
- Expanded Line Clearing: Consumers Energy is set to clear over 9,000 miles of power lines this year, aiming to enhance grid safety and protect public safety in Michigan, which is expected to significantly reduce outages caused by trees and limbs.
- Outage Causes: Trees and limbs account for nearly 40% of all service interruptions, making preventative maintenance and line clearing essential to mitigate safety risks associated with tree contact with power lines.
- Tree Planting Grant Program: Since 2017, Consumers Energy has invested over $730,000 in tree planting grants, supporting nearly 5,500 trees planted under the “Right Tree, Right Place” initiative, aimed at minimizing future reliability issues and ecological concerns.
- Long-Term Safety Commitment: By increasing monitoring frequency and proactive line clearing, Consumers Energy is committed to building a safer, more reliable future, ensuring customers can depend on their electric service while preserving community tree aesthetics.
See More
CMS Energy Corporation Reports Strong Q1 Performance, Reaffirms Growth Outlook
- Strong Q1 Performance: CMS Energy Corporation reported an adjusted earnings per share of $1.13 for Q1 2026, up from $1.02 in the same quarter last year, demonstrating robust execution that positions the company for solid full-year growth.
- Guidance Reaffirmation: The company reaffirmed its adjusted earnings guidance for 2026 to be between $3.83 and $3.90 per share, indicating management's confidence in future profitability, while also projecting long-term adjusted EPS growth of 6% to 8%, which enhances investor confidence.
- Commitment to Shareholder Returns: The board approved a common dividend of $0.57 per share, to be paid on May 29 to shareholders of record as of May 8, reflecting the company's commitment to shareholder value and aiming to strengthen long-term investor loyalty.
- Investment in Renewable Energy: As a Michigan-based energy holding company, CMS Energy focuses on investing in renewable energy and plans to pivot to coal-free generation by 2025, showcasing its strategic shift towards sustainability in response to market demand for green energy.
See More
CMS Energy Declares Dividend on Preferred Stock
- Dividend Announcement: CMS Energy's Board of Directors has declared a dividend of $0.2625 per depositary share, payable on July 15, 2026, to shareholders of record as of July 1, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Details: This dividend pertains to the 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, reflecting the company's stability in its capital structure and attractiveness to investors.
- Transparent Tax Information: CMS Energy provides information regarding the tax status of its dividend distributions, ensuring investors are well-informed about the tax implications of their investment returns, thereby enhancing trust between the company and its shareholders.
- Business Context: As a Michigan-based energy provider, CMS Energy showcases its diversification and stability in the energy market through its primary business, Consumers Energy, and independent power generation operations.
See More
CMS Energy CFO Departure Weighs on Stock Confidence
- CFO Departure Impact: CMS Energy announced the immediate retirement of CFO Rejji Hayes, succeeded by Senior VP Sri Maddipati, with this unexpected departure likely undermining investor confidence and putting pressure on the stock price.
- Rating Downgrade: Jefferies downgraded CMS's rating from Buy to Hold, reducing the price target from $88 to $74, with analyst Julien Dumoulin-Smith highlighting the CFO's exit as a potential risk for EPS re-evaluation.
- Market Confidence Low: Analysts note that investor confidence is at a multi-year low, primarily due to the absence of data center announcements, potential NorthStar asset sales, and upcoming Michigan elections.
- Increased Competitive Pressure: CMS faces heightened market pressure compared to peer DTE in annual electric rate cases, which analysts believe will further impact its ability to regain relative valuation.
See More
CMS Energy Appoints New CFO and Electric Supply President
- Executive Appointment: Sri Maddipati has been appointed as the Chief Financial Officer of CMS Energy and Consumers Energy effective June 3, 2026, overseeing critical functions such as Investor Relations and Financial Planning, leveraging nearly 20 years of finance and operational experience to ensure a smooth leadership transition.
- Leadership in Electric Supply: Chris Fultz has been named Senior Vice President and President of Electric Supply on the same date, tasked with managing electric supply planning and market operations, and his extensive background in project management and natural gas operations is expected to enhance the execution of the company's long-term energy supply strategy.
- CFO Retirement Acknowledgment: Rejji Hayes will retire on June 3, with gratitude expressed for his leadership and contributions, highlighting his meaningful impact on employees, communities, and investors, reflecting the company's commitment to leadership transitions.
- Company Overview: CMS Energy is a Michigan-based energy provider with Consumers Energy as its primary business, also owning independent power generation operations, and it continues to focus on investor relations to enhance transparency and communication.
See More
CMS Energy Appoints New CFO and Electric Supply President
- Executive Appointment: CMS Energy announced that Sri Maddipati will become Chief Financial Officer on June 3, 2026, overseeing investor relations and financial planning, leveraging nearly 20 years of finance experience to ensure a smooth leadership transition and drive the company's future growth.
- Leadership in Electric Supply: Chris Fultz is appointed as President of Electric Supply on the same day, responsible for the strategic and operational management of the electric supply business unit, and his extensive experience in project management and natural gas operations will support the execution of the company's long-term energy supply blueprint.
- Succession and Retirement: Current CFO Rejji Hayes will retire on the same day, with CMS Energy expressing gratitude for his contributions, highlighting his positive impact on employees, communities, and investors, reflecting the company's commitment to strong leadership.
- Company Background: CMS Energy is a Michigan-based energy provider with Consumers Energy as its primary business, also owning independent power generation operations, and continuously focusing on investor relations to enhance transparency.
See More
Consumers Energy Expands Line Clearing Efforts
- Expanded Line Clearing: Consumers Energy is set to clear over 9,000 miles of power lines this year, aiming to enhance grid safety and protect public safety in Michigan, which is expected to significantly reduce outages caused by trees and limbs.
- Outage Causes: Trees and limbs account for nearly 40% of all service interruptions, making preventative maintenance and line clearing essential to mitigate safety risks associated with tree contact with power lines.
- Tree Planting Grant Program: Since 2017, Consumers Energy has invested over $730,000 in tree planting grants, supporting nearly 5,500 trees planted under the “Right Tree, Right Place” initiative, aimed at minimizing future reliability issues and ecological concerns.
- Long-Term Safety Commitment: By increasing monitoring frequency and proactive line clearing, Consumers Energy is committed to building a safer, more reliable future, ensuring customers can depend on their electric service while preserving community tree aesthetics.
See More
CMS Energy Corporation Reports Strong Q1 Performance, Reaffirms Growth Outlook
- Strong Q1 Performance: CMS Energy Corporation reported an adjusted earnings per share of $1.13 for Q1 2026, up from $1.02 in the same quarter last year, demonstrating robust execution that positions the company for solid full-year growth.
- Guidance Reaffirmation: The company reaffirmed its adjusted earnings guidance for 2026 to be between $3.83 and $3.90 per share, indicating management's confidence in future profitability, while also projecting long-term adjusted EPS growth of 6% to 8%, which enhances investor confidence.
- Commitment to Shareholder Returns: The board approved a common dividend of $0.57 per share, to be paid on May 29 to shareholders of record as of May 8, reflecting the company's commitment to shareholder value and aiming to strengthen long-term investor loyalty.
- Investment in Renewable Energy: As a Michigan-based energy holding company, CMS Energy focuses on investing in renewable energy and plans to pivot to coal-free generation by 2025, showcasing its strategic shift towards sustainability in response to market demand for green energy.
See More
CMS Energy Declares Dividend on Preferred Stock
- Dividend Announcement: CMS Energy's Board of Directors has declared a dividend of $0.2625 per depositary share, payable on July 15, 2026, to shareholders of record as of July 1, 2026, demonstrating the company's commitment to shareholder returns.
- Preferred Stock Details: This dividend pertains to the 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, reflecting the company's stability in its capital structure and attractiveness to investors.
- Transparent Tax Information: CMS Energy provides information regarding the tax status of its dividend distributions, ensuring investors are well-informed about the tax implications of their investment returns, thereby enhancing trust between the company and its shareholders.
- Business Context: As a Michigan-based energy provider, CMS Energy showcases its diversification and stability in the energy market through its primary business, Consumers Energy, and independent power generation operations.
See More
