CMS Energy Corp

CMS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$48.00	Dxrgcqv	Rcxmhjny

CMS Energy Closes Impressive 2022; Expect Another Year of Growth in 2023

Travis Miller

Feb 2, 2023

We are reaffirming our $54 fair value estimate for CMS Energy after the company reported 2022 adjusted earnings per share of $2.89, up from $2.65 in 2021. Results were in line with our forecast and at the high end of management's 2022 guidance range. We are reaffirming our narrow moat and stable moat trend ratings.

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