CMS

CMS Energy Corp

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Advanced Chart

72.780

-0.11(-0.151%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

73.270

Open

72.830

VWAP

72.67

Vol

2.04M

Mkt Cap

21.77B

Low

72.120

Amount

147.95M

EV/EBITDA(TTM)

13.82

Total Shares

298.64M

39.08B

EV/OCF(TTM)

16.19

P/S(TTM)

2.79

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).

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

2.08B

+4.55%

1.027

+18.03%

1.85B

+6.2%

0.883

+5.09%

1.68B

+4.62%

0.664

+0.61%

Estimates Revision

The market is revising Downward the revenue expectations for CMS Energy Corporation (CMS) for FY2025, with the revenue forecasts being adjusted by -0.01% over the past three months. During the same period, the stock price has changed by 0.37%.

Revenue Estimates for FY2025

Revise Downward

-0.01%

In Past 3 Month

EPS Estimates for FY2025

Revise Downward

-0.12%

In Past 3 Month

Stock Price

Go Up

+0.37%

In Past 3 Month

11 Analyst Rating

7.31% Upside

Wall Street analysts forecast CMS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CMS is 78.10 USD with a low forecast of 71.00 USD and a high forecast of 83.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

8 Buy

3 Hold

0 Sell

Moderate Buy

7.31% Upside

Current: 72.780

Low

71.00

Averages

78.10

High

83.00

7.31% Upside

Current: 72.780

Low

71.00

Averages

78.10

High

83.00

Barclays

Nicholas Campanella

Overweight

maintain

$77 -> $78

2025-07-22

New

Reason

Barclays

Nicholas Campanella

Price Target

$77 -> $78

2025-07-22

New

maintain

Overweight

Reason

Barclays analyst Nicholas Campanella raised the firm's price target on CMS Energy to $78 from $77 and keeps an Overweight rating on the shares as part of a Q2 preview for the power and utilities group. The firm reiterates a positive outlook on the sector, noting the shares are now back to a 20% discount on price-to-earnings.

Wolfe Research

Outperform -> Peer Perform

downgrade

$NULL

2025-07-07

Reason

Wolfe Research

Price Target

$NULL

2025-07-07

downgrade

Outperform -> Peer Perform

Reason

Wolfe Research downgraded CMS Energy to Peer Perform from Outperform without a price target. The firm views the shares as fairly valued and sees better opportunities within the regulated space. Wolfe continues to view CMS as "high quality and relatively low risk."

Morgan Stanley

David Arcaro

Equal Weight

downgrade

$74 -> $71

2025-05-22

Reason

Morgan Stanley

David Arcaro

Price Target

$74 -> $71

2025-05-22

downgrade

Equal Weight

Reason

Morgan Stanley analyst David Arcaro lowered the firm's price target on CMS Energy to $71 from $74 and keeps an Equal Weight rating on the shares. The firm is updating its price targets for stocks in the Regulated & Diversified Utilities / IPP North America sector under its coverage, the analyst tells investors. Utilities continue to see strong interest from both data centers and large load customers, the firm notes. Additionally, management teams believe any changes to the IRA are manageable, with many companies with safe harboring in place, the firm adds.

Wells Fargo

Neil Kalton

Overweight

maintain

$78 -> $82

2025-04-25

Reason

Wells Fargo

Neil Kalton

Price Target

$78 -> $82

2025-04-25

maintain

Overweight

Reason

Wells Fargo analyst Neil Kalton raised the firm's price target on CMS Energy to $82 from $78 and keeps an Overweight rating on the shares. The firm notes that it was no surprise that management exuded confidence in CMS's ability to deliver in the face of uncertainty. The company has the track record to back it up, Wells adds. Management continues to target the high end of 2025 EPS guidance and the 6%-8% long-term CAGR.

Scotiabank

Outperform

maintain

$77 -> $81

2025-04-25

Reason

Scotiabank

Price Target

$77 -> $81

2025-04-25

maintain

Outperform

Reason

Scotiabank raised the firm's price target on CMS Energy to $81 from $77 and keeps an Outperform rating on the shares. CMS Energy remains among its top picks, as the firm is drawn to its above-average EPS growth with below-average risks, the analyst tells investors. The firm is reassured the company expects limited impact from tariffs.

Jefferies

Julien Dumoulin-Smith

Strong Buy

Maintains

$77 → $83

2025-04-21

Reason

Jefferies

Julien Dumoulin-Smith

Price Target

$77 → $83

2025-04-21

Maintains

Strong Buy

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for CMS Energy Corp (CMS.N) is 19.87, compared to its 5-year average forward P/E of 20.34. For a more detailed relative valuation and DCF analysis to assess CMS Energy Corp 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

20.34

Current PE

19.87

Overvalued PE

23.02

Undervalued PE

17.66

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Overvalued

5Y Average EV/EBITDA

12.29

Current EV/EBITDA

13.35

Overvalued EV/EBITDA

13.12

Undervalued EV/EBITDA

11.47

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Overvalued

5Y Average PS

2.35

Current PS

2.69

Overvalued PS

2.62

Undervalued PS

2.08