Regulatory and Political Support Gives CMS a Transparent Runway of Earnings Growth
We are reaffirming our $42 fair value estimate for CMS Energy after the company reported earning $0.75 per share in the first quarter of 2019, down from $0.86 in the first quarter of 2018. We are also reaffirming our narrow moat and stable moat trend ratings. Management’s 2019 EPS guidance of $2.47-$2.51 remains in line with our estimate.The first-quarter drop in earnings, due primarily to $0.10 per share of excess storm costs, does not change our outlook for 2019 or beyond. We anticipate weath...
CMS Energy is a holding company. The company has several subsidiaries, including: Consumers Energy Company, an electric and gas utility that serves individuals and businesses operating in the alternative energy, automotive, chemical, food, and metal products industries, as well as a group of other industries; CMS Enterprises Company, through its subsidiaries and equity investments, is engaged in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production; and EnerBank USA, an industrial bank located in Utah that provides unsecured consumer installment loans, primarily for financing home improvements.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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