CMS · Cms Energy Corp

Track CMS — free

$63.68 +0.60 (+0.94%)

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$19.94B

313.58M

Volume · Oct 1 4.52M Avg daily vol (3M) 3.57M

Up next

Next earnings call

Oct 27, 2026 Est · unconfirmed · in 4 wks

Latest filing: 10-Q

filed Jul 28, 2026

Q2 2026 earnings call transcript

call held Jul 28, 2026

Metrics snapshot

Useful current figures from the complete screener profile.

View all 115 metrics

Revenue (TTM)

$8.81B

Trailing 12 months

Net income (TTM)

$1.03B

Trailing 12 months

Revenue growth YoY

-0.5%

Year over year

Operating margin

18.9%

Trailing 12 months

P / E (TTM)

18.9

Trailing earnings · reciprocal yield 5.3%

FCF yield

—

TTM · current market cap

Return on invested capital

4.6%

Trailing 12 months

Net cash

−$18.80B

Latest balance sheet

Dividend yield

—

Trailing 12 months

Shares change YoY

+3.9%

Year over year · more shares

Price change (1Y)

-13.9%

Trailing year

Short interest

5.2%

Latest settlement · 5.6 days to cover

View all 115 metrics

AI Brief

Q2 FY26 earnings call · Jul 28, 2026

Q2 FY26

TL;DR. CMS Energy reaffirmed 2026 adjusted EPS guidance of $3.83–$3.90 and introduced 2027 guidance of $4.08–$4.17, while announcing a strategic exit from non-utility renewables development at NorthStar to reduce parent funding needs by over $500M through 2030. H1 2026 results were weaker year-over-year, with adjusted EPS of $1.50 vs. $1.73 and Q2 adjusted EPS of $0.37 vs. $0.71.

Bullish

+ Reaffirmed full-year 2026 adjusted EPS guidance of $3.83–$3.90 with confidence toward the high end.
+ NorthStar restructuring reduces parent funding needs by $500M+ through 2030 and removes ~$1.7B of non-utility renewables capital allocation.
+ Reached a Large Load Tariff agreement with a data center customer, including an Extraordinary Facilities Agreement and Rate Agreement, with ~$7.50/month residential bill benefit per gigawatt.

Bearish

− H1 2026 adjusted EPS of $1.50 was down $0.23 vs. $1.73 prior year, driven by absence of prior-year liability management benefits.
− H1 2026 GAAP EPS of $1.47 vs. $1.67 prior year reflects negative year-over-year comparison.
− Year-to-date results were hit by $0.19 of unfavorable storm-related O&M variance and $0.08 unfavorable weather variance.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice

Overall

Neutral

SellHoldBuy

Technical Strong Sell Momentum Very Weak Sentiment Bullish Fundamentals Fair Quant / Vol Very Low

Market backdrop VIX 16.3 · calm Equity put/call 0.53

Technical

price trend

Strong Sell

50 / 200-day cross No cross

Price vs 200-day avg −13%

below

Price vs 50-day avg −8%

below

RSI (14) 27

oversold

MACD trend Negative

52-week position 3%

near low

Volume (OBV) Confirms

volume backs price

Momentum

relative strength

Very Weak

1-month return −7%

trailing

6-month return −21%

trailing

YTD return −10%

this year

Relative strength −33%

vs S&P · 6-mo

Sentiment

smart money

Bullish

Trend (MA cross) No cross

50d $69 › 200d $73 — 200d above 50d

Institutional flow Accumulating

+2% holders QoQ · +105 funds added

Insider flow Accumulating

Net +$14.5K over 90 days · 0% sells

Short interest Rising

5.22% of float · ▲ +3.9% MoM · 5.6 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

822 holders — near 3-yr high, broad support

Squeeze score 52

elevated · 0–100

Fundamentals

Fair

Revenue growth +14%

Y/Y

EPS growth +6%

Y/Y

Free cash flow $-139.0M

Valuation P/E 19.1

below peers

Balance sheet $18.2B

net debt

Quant / Vol

risk profile

Very Low

Volatility 17%

annualized · 1-yr

Max drawdown −22%

past year

ATR 1.6%

of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

what management promised — and delivered

Latest guidance · from the 8-K filed Jul 28, 2026

2026

Adjusted earnings per share Non-GAAP $3.83 – $3.90

2027

Adjusted earnings per share Non-GAAP $4.08 – $4.17

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Sell

4 · 3 · 0

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

−13% Bearish

Price vs 50-day avg

−8% Bearish

RSI (14)

27 Neutral

MACD trend

Negative Bearish

52-week position

3% Bearish

Volume (OBV)

Confirms Neutral

Market signals — smart money & positioning

Bullish · 3 of 6

Trend (MA cross) No cross

50d $69 › 200d $73 — 200d above 50d

Institutional flow Accumulating

+2% holders QoQ · +105 funds added

Insider flow Accumulating

Net +$14.5K over 90 days · 0% sells

Short interest Rising

5.22% of float · ▲ +3.9% MoM · 5.6 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

822 holders — near 3-yr high, broad support

Price context

position in its 52-week range

Range low $63 Now $63 · 3% Range high $80

vs 200-day avg -13% vs 50-day avg -8%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings

Metric	Latest	Period	YoY
deliveries to end-use customers (electric)	8.9B	Three Months Ended June 30, 2026 filing	—
deliveries to end-use customers (gas)	46	Three Months Ended June 30, 2026 filing	—

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Utilities - Regulated Electric — same industry group

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
CMS Cms Energy Corp this stock	$19.94B	-9.8%	+13.6%	19.1	5.2%
NEE Nextera Energy Inc	$158.65B	-5.7%	-7.1%	19.3	2.7%
SO Southern Co	$93.43B	-4.9%	+10.6%	21.2	2.6%
DUK Duke Energy CORP	$88.37B	-2.7%	+35.1%	17.4	0.0%
NGG National Grid PLC	$75.89B	-2.0%	—	—	0.1%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section

Ownership

Institutional Holders Accumulating

Holders

822

% held: 100.7%
Net QoQ: +17.5M sh
Top holder: BlackRock, Inc.

Held Float

View

Held by Funds

Fund positions

765

View

Short & Settlement

Short Interest Rising

Shares short

16.4M

Days to cover: 5.6d
Change: +616.2K sh

View

Short Volume

Short vol %

62%

As of: Sep 30, 2026

Short Total

View

Fails to Deliver

FTD shares

108

Value: $7.4K
As of: Sep 8, 2026

View

Off-Exchange

Off-exchange %

42.2%

Week of: Aug 24, 2026

Off-exch Lit

View

Smart Money

Insider Trades Net buying

Net (90d)

+$14.5K

Buyers / Sellers: 1 / 0

Buyers Sellers

View

Congressional Trades Sell

Member

Julie Johnson

Amount: $1.0K–$15.0K
Traded: Dec 8, 2025

View

Financials

Revenue (FY)

$8.5B

Net income (FY): $1.1B
EPS diluted: $3.53

View

Filings

SEC Filings

Latest

8-K

Filed: Jul 28, 2026
This year: 13

View

Proposed Sales

Value

$136.9K

Shares: 1.8K
Filed: Mar 2, 2026

View

Earnings & Events

Earnings Calls

Last call

Jul 28, 2026

View

Investor Relations

Performance

	5D	20D	120D	MTD	YTD
CMS	-0.1%	-7.2%	-21.1%	-7.3%	-9.8%
SPY	-0.7%	+0.1%	+12.2%	-0.6%	+11.8%
vs SPY	+0.6%	-7.3%	-33.3%	-6.7%	-21.6%

Key facts CIK 811156 CUSIP 125896100 13F (30d) 17 filings 13 filers Visit website Investor relations

CMS · Cms Energy Corp

Price & Indicators

Up next

Metrics snapshot

AI Brief

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance