CMS Energy Corporation (CMS)

CMS Energy Corp. announced strong second-quarter results on July 31, 2025, exceeding analysts' estimates, and reaffirmed its 2025 adjusted earnings guidance. The company also announced an agreement for a new data center. On October 20, 2025, a quarterly dividend was declared. Analyst ratings have been adjusted, with Barclays and KeyCorp raising their price targets. However, the stock's year-to-date performance has slightly trailed the S&P 500, and insider selling has occurred.

Demand for CMS Energy Corp.'s products and services exhibits seasonality driven by weather patterns. Natural gas consumption peaks in the winter due to heating demand and has a smaller peak in the summer due to electricity demand for air conditioning. The spring and fall see reduced demand and increased natural gas inventory.

CMS Energy Corp. is an American energy company based in Jackson, Michigan, operating primarily in Michigan's utility sector. Its main business, Consumers Energy, provides electricity and natural gas to over 6 million Michigan residents. CMS Energy generates electricity from various sources, including coal, wind, gas, renewable energy, oil, and nuclear, and it also purchases, transmits, stores, distributes, and sells natural gas. The NorthStar Clean Energy segment focuses on domestic independent power production, including renewable generation development and operation.

CMS Energy Corp.'s operations are mainly in Michigan. Consumers Energy provides natural gas and electricity services across all 68 counties in Michigan's Lower Peninsula, serving approximately 1.9 million electric customers and 1.8 million natural gas customers.

Consumers Energy has been working to improve its reliability and service restoration times, with improvements seen in outage minutes and restoration times. However, an independent audit found that both DTE Electric and Consumers Energy had "worse than average" service interruptions and outdated infrastructure. CMS Energy has been recognized for its commitment to sustainability, including being included in the MSCI ESG Leaders Index and receiving the ENERGY STAR® Partner of the Year award. The company is pursuing a Clean Energy Plan, aiming for net-zero carbon emissions by 2040.

CMS Energy Corporation's ownership is predominantly institutional, with 76.98% held by institutional shareholders. Individual investors hold 21.85% of the company, while CMS Energy insiders own 1.17%. Vanguard Group Inc. is the largest individual shareholder, holding 39.04 million shares, representing 10.18% of the company.