CMS has an aggressive investment plan that will require regulatory support
We are reaffirming our $37 fair value estimate for CMS Energy, along with our narrow moat and stable moat trend ratings, after the company reported earnings of $0.71 per share in the first quarter of 2017, up from $0.59 per share in the first quarter of 2016. Weather-adjusted results showed a similar increase, albeit to $0.85 per share after accounting for storms and mild weather. CMS remains on track to reach our full-year weather-adjusted earnings estimate and management's $2.14-$2.18 EPS guid...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.
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