CMS Achieves Another Year of Industry-Leading Earnings Growth
We are reaffirming our $37 fair value estimate, narrow moat and stable moat trend rating for CMS Energy after the company reported earning $2.02 per share in 2016, in line with our estimate and up 7% from 2015.We think CMS can continue growing earnings and the dividend near 7% annually at least the next five years, one of the highest growth rates in the sector. Our 2017 earnings estimate is in line with management’s $2.14-$2.18 per share guidance range and consensus, representing another year o...
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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