CMS Energy (CMS)
Utilities · Electric and gas utility / Independent power producer
Michigan-based regulated utility generating and distributing electricity and natural gas while developing renewable power through its independent power producer subsidiary.
What CMS Energy does
CMS Energy is a holding company operating primarily in Michigan through its subsidiaries Consumers Energy and NorthStar Clean Energy. Consumers generates, purchases, distributes, and sells electricity to residential, commercial, and industrial customers, and purchases, transmits, stores, distributes, and sells natural gas. NorthStar Clean Energy develops and operates renewable generation assets and markets independent power production domestically. The company operates three business segments: electric utility, gas utility, and non-utility renewable power operations.
Themes: ["Regulated utilities","Renewable energy transition","Grid reliability and modernization","Michigan energy infrastructure","Clean energy development","Distributed electricity and gas","Energy storage and supply chain"]
Fundamentals
- Price$75.00 as of 2026-07-09 close
- Market cap$23.3B as of 2026-07-10
- 1-year return+7.5% as of 2026-07-09 close
- P/E21.02 as of 2026-07-10
- Net margin+13.2% as of 2026-07-10
- Gross margin+31.9% as of 2026-07-10
- ROE+12.3% as of 2026-07-10
- Debt / equity2.02 as of 2026-07-10
- Revenue growth (YoY)+12.7% as of 2026-07-10
- Revenue CAGR (3y)-0.2% SEC XBRL
- Beta0.34 as of 2026-07-10
Dividend: yield +3.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Regulatory and legislative changes affecting rates, cost recovery, and energy policy in Michigan and at the federal level","Weather volatility and climate impacts on energy demand, commodity prices, and grid infrastructure resilience","Capital intensity of utility operations and grid modernization requiring significant ongoing investment and refinancing at potentially higher interest rates"]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.