1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We are reaffirming our $50 fair value estimate for CMS Energy after the company reported $0.55 in operating earnings per share in the second quarter, excluding earnings from Enerbank, which the company agreed to sell in June. Earnings were up $0.10 per share from the second quarter of 2020, excluding Enerbank, and are on track to meet our full-year outlook. We are reaffirming our narrow moat and stable moat trend ratings.
CMS Energy is an energy holding company with three principal businesses. Its regulated utility, Consumers Energy, provides regulated natural gas service to 1.8 million customers and electric service to 1.8 million customers in Michigan. CMS Enterprises is engaged in wholesale power generation, including contracted renewable energy. CMS plans to sell EnerBank in late 2021.
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