CMS Energy Corp

CMS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$91.00	Kldkt	Pvxmqsxzr

CMS Energy's First-Half Results and Constructive Regulatory Outcomes Support Near-Term Growth

Travis Miller

Jul 28, 2022

We are reaffirming our $53 fair value estimate for CMS Energy after the company reported adjusted earnings per share of $0.53 in the second quarter. Management reaffirmed its $2.85-$2.89 EPS guidance for 2022. We think CMS could exceed that range after a better-than-expected start to the year and potential cost savings later this year. We are reaffirming our narrow moat and stable moat trend ratings.

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