CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 270 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,646 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 81,924 miles of electric distribution overhead lines; 9,775 miles of underground distribution lines; and 1,098 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,342 miles of transmission lines; 15 gas storage fields; 28,368 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.
Regulatory Tailwinds | CMS Energy benefits from a supportive regulatory environment in Michigan, with recent approvals bolstering revenue and reinforcing investor confidence in the utility's growth prospects. |
Financial Fortitude | Explore CMS Energy's robust financial outlook, featuring projected 6-8% annual EPS growth, consistent dividends, and an upward revision of 2025 EPS guidance to $3.54-$3.60. |
Strategic Initiatives | Delve into CMS Energy's key growth drivers, including renewable energy programs, digital innovations, and efficient financing strategies poised to capitalize on Michigan's Energy Law. |
Analyst Perspectives | Discover why analysts maintain a positive outlook on CMS Energy, with price targets ranging from $75 to $80, reflecting confidence in the company's regulatory position and execution. |
Metrics to compare | CMS | Sector Sector - Average of metrics from a broad group of related Utilities sector companies | Relationship RelationshipCMSPeersSector | |
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P/E Ratio | 20.7x | 16.1x | 11.9x | |
PEG Ratio | 6.75 | 1.02 | 0.02 | |
Price/Book | 2.6x | 1.6x | 1.3x | |
Price / LTM Sales | 2.7x | 1.8x | 1.5x | |
Upside (Analyst Target) | 11.8% | 11.1% | 13.9% | |
Fair Value Upside | Unlock | −15.5% | 4.8% | Unlock |