CMS Energy Corp

CMS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$34.00	Clwpxr	Qqkhwmhj

CMS Energy: Stage Set for Another Year of Steady Growth; Raising Fair Value Estimate

Travis Miller

Feb 1, 2024

We are raising our CMS Energy fair value estimate to $57 from $55 after the company reported 2023 earnings slightly above our estimate, raised 2024 guidance, and added $1.5 billion to its five-year capital investment plan. We are reaffirming our narrow moat rating.

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