CMS
CMS Energy Corporation
NYSEUSDEQUITY
Utilities
DELAYED
Neutral
-16/100
Last price
65.07
▲ 1.04 (1.62%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
64.30
Prev close
64.03
Day high
65.11
Day low
64.10
Volume
3.68M
Market cap
$20.40B
P/E (TTM)
19.25
52W range
62.29 – 80.36
Day trading desk
Gap from prior close
+0.42%
Prior close 64.03
VWAP
64.81
+0.40% from price
Relative volume
2.83×
Unusually busy
Session range
1.58%
64.10 – 65.11
Position in range
96%
Near session high
ATR (14D)
0.99
1.52% of price
Prior day high
64.58
PDH
Prior day low
63.37
PDL
Bid / ask spread
—
Quote not published
Session volume
10.50M
Avg 3.71M
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+2.55%
+0.6%
1M
-4.95%
-6.1%
3M
-14.60%
-19.1%
6M
-17.20%
-35.4%
YTD
-6.95%
-21.2%
1Y
-10.05%
-26.5%
3Y
+22.52%
-59.7%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on CMS open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+31.49K
Net buying
Buy transactions
12
34.49K shares
Sell transactions
1
3.00K shares
Net transactions
+13
Buys less sells
Sell : buy shares
0.1 : 1
Mixed
Insider-held shares
1.71M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jul 31, 26 | MADDIPATI SRIKANTH Officer |
BUY | 200 | $14.49K | Direct |
| Jun 15, 26 | MADDIPATI SRIKANTH Chief Financial Officer |
STOCK | 10.18K | $0 | Direct |
| May 26, 26 | HOFMEISTER BRANDON J Officer |
SELL | 3.00K | $222.93K | Direct |
| May 8, 26 | RUSSELL JOHN G. Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | TANSKI RONALD J Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | IZZO RALPH Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | WRIGHT LAURA H Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | SHANK SUZANNE F Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | LEOPOLD DIANE Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | SOTO MYRNA M Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | SZNEWAJS JOHN G Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | BUTLER DEBORAH H Director |
STOCK | 2.41K | $0 | Direct |
| May 8, 26 | KEYES RICHARD PATRICK Director |
STOCK | 2.41K | $0 | Direct |
| Mar 26, 26 | ROCHOW GARRICK J Chief Executive Officer |
STOCK | 19.68K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BERRY TONYA L |
Chief Operating Officer | 70.11K | Stock Award(Grant) |
DARROW KURT L |
Director | 42.10K | Stock Award(Grant) |
HAYES REJJI P |
Chief Financial Officer | 268.54K | Stock Award(Grant) |
HENDRIAN CATHERINE A |
Officer | 55.81K | Stock Award(Grant) |
HOFMEISTER BRANDON J |
Officer | 67.11K | Sale |
JOHNSON SHAUN M |
Officer | 109.33K | Stock Award(Grant) |
ROCHOW GARRICK J |
Chief Executive Officer | 637.92K | Stock Award(Grant) |
RUSSELL JOHN G. |
Director | 134.07K | Stock Award(Grant) |
WELLS LEEROY JR |
Officer | 84.35K | Stock Award(Grant) |
WRIGHT LAURA H |
Director | 43.62K | Stock Award(Grant) |
Fundamentals
Market cap$20.40B
Enterprise value$40.31B
Revenue (TTM)$8.81B
Gross profit$3.55B
EBITDA$3.02B
Net income$1.02B
EPS (TTM)$3.38
Free cash flow$-2.20B
Total cash$241.00M
Total debt$19.30B
Book value / share$30.45
Shares outstanding313.58M
Float311.47M
Short % of float5.89%
Dividend yield3.56%
Beta (5Y)0.31
Valuation & profitability ratios
Trailing P/E19.25
Forward P/E15.66
PEG ratio2.31
Price / sales—
Price / book2.14
EV / revenue4.57
EV / EBITDA13.36
Gross margin40.31%
Operating margin17.17%
Profit margin11.64%
Return on equity9.16%
Return on assets2.97%
Debt / equity185.60
Current ratio0.94
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $8.54B | $7.51B | $7.46B | $8.60B | +13.6% |
| Operating revenue | $8.54B | $7.51B | $7.46B | $8.60B | +13.6% |
| Cost of revenue | $4.99B | $4.31B | $4.60B | $5.83B | +16.0% |
| Gross profit | $3.55B | $3.21B | $2.86B | $2.76B | +10.5% |
| Total operating expense | $1.82B | $1.72B | $1.63B | $1.54B | +5.6% |
| Operating income | $1.73B | $1.49B | $1.24B | $1.22B | +16.1% |
| Net interest income | -$751.00M | -$658.00M | -$605.00M | -$519.00M | -14.1% |
| Pre-tax income | $1.25B | $1.12B | $954.00M | $902.00M | +11.1% |
| Tax provision | $246.00M | $176.00M | $147.00M | $93.00M | +39.8% |
| Net income | $1.07B | $1.00B | $887.00M | $837.00M | +6.8% |
| Net income to common | $1.06B | $993.00M | $877.00M | $827.00M | +6.8% |
| Basic EPS | 3.46 | 3.32 | 2.98 | 2.84 | +4.2% |
| Diluted EPS | 3.46 | 3.32 | 2.98 | 2.84 | +4.2% |
| EBIT | $2.05B | $1.83B | $1.60B | $1.42B | +11.7% |
| EBITDA | $3.35B | $3.07B | $2.78B | $2.55B | +9.2% |
| Basic shares | 306.41M | 298.78M | 294.40M | 291.30M | +2.6% |
| Diluted shares | 306.41M | 298.78M | 294.40M | 291.30M | +2.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $509.00M | $103.00M | $227.00M | $164.00M | +394.2% |
| Cash & short-term investments | $509.00M | $103.00M | $227.00M | $164.00M | +394.2% |
| Accounts receivable | $1.31B | $1.05B | $933.00M | $1.56B | +24.5% |
| Inventory | $791.00M | $769.00M | $938.00M | $1.12B | +2.9% |
| Total current assets | $3.47B | $2.79B | $2.84B | $3.43B | +24.4% |
| Property, plant & equipment | $30.68B | $27.46B | $25.07B | $22.71B | +11.7% |
| Total assets | $39.94B | $35.92B | $33.52B | $31.35B | +11.2% |
| Total current liabilities | $3.55B | $3.52B | $2.90B | $2.98B | +0.8% |
| Current debt | $956.00M | $1.26B | $1.07B | $1.12B | -24.1% |
| Long-term debt | $17.81B | $15.19B | $14.51B | $13.12B | +17.2% |
| Total debt | $18.90B | $16.57B | $15.64B | $14.31B | +14.1% |
| Total liabilities | $30.23B | $27.17B | $25.39B | $23.76B | +11.3% |
| Retained earnings | $2.44B | $2.04B | $1.66B | $1.35B | +20.0% |
| Shareholder equity | $9.14B | $8.23B | $7.54B | $7.01B | +11.1% |
| Working capital | -$76.00M | -$731.00M | -$56.00M | $448.00M | +89.6% |
| Net tangible assets | $9.14B | $8.23B | $7.54B | $7.01B | +11.1% |
| Shares issued | 306.41M | 298.78M | 294.40M | 291.30M | +2.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $1.00B | $947.00M | $808.00M | $813.00M | +5.8% |
| Depreciation & amortisation | $1.31B | $1.24B | $1.18B | $1.13B | +5.3% |
| Change in working capital | -$61.00M | $262.00M | $416.00M | -$1.11B | -123.3% |
| Operating cash flow | $2.23B | $2.37B | $2.31B | $855.00M | -5.7% |
| Capital expenditure | -$4.04B | -$3.18B | -$3.39B | -$2.48B | -27.1% |
| Investing cash flow | -$4.04B | -$3.05B | -$3.39B | -$2.48B | -32.2% |
| Dividends paid | -$663.00M | -$626.00M | -$579.00M | -$544.00M | -5.9% |
| Financing cash flow | $2.24B | $614.00M | $1.14B | $1.33B | +264.8% |
| Free cash flow | -$1.80B | -$808.00M | -$1.08B | -$1.63B | -123.1% |
| End cash position | $615.00M | $178.00M | $248.00M | $182.00M | +245.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $1.83B | $2.73B | $2.23B | $2.02B | $1.84B | -33.0% |
| Operating revenue | $1.83B | $2.73B | $2.23B | $2.02B | $1.84B | -33.0% |
| Cost of revenue | $1.14B | $1.66B | $1.32B | $1.15B | $1.12B | -31.2% |
| Gross profit | $690.00M | $1.07B | $912.00M | $876.00M | $714.00M | -35.8% |
| Total operating expense | $426.00M | $585.00M | $477.00M | $395.00M | $397.00M | -27.2% |
| Operating income | $264.00M | $490.00M | $435.00M | $481.00M | $317.00M | -46.1% |
| Net interest income | -$210.00M | -$203.00M | -$163.00M | -$203.00M | -$199.00M | -3.4% |
| Pre-tax income | $129.00M | $362.00M | $295.00M | $340.00M | $255.00M | -64.4% |
| Tax provision | $33.00M | $85.00M | $53.00M | $68.00M | $62.00M | -61.2% |
| Net income | $120.00M | $340.00M | $289.00M | $277.00M | $201.00M | -64.7% |
| Net income to common | $117.00M | $338.00M | $286.00M | $275.00M | $198.00M | -65.4% |
| Basic EPS | 0.38 | 1.10 | 0.93 | 0.90 | 0.66 | -65.5% |
| Diluted EPS | 0.37 | 1.10 | 0.93 | 0.90 | 0.66 | -66.4% |
| EBIT | $339.00M | $566.00M | $504.00M | $543.00M | $454.00M | -40.1% |
| EBITDA | $659.00M | $978.00M | $846.00M | $831.00M | $755.00M | -32.6% |
| Basic shares | 310.20M | 306.40M | 306.41M | 304.30M | 299.30M | +1.2% |
| Diluted shares | 310.80M | 307.10M | 306.41M | 304.30M | 299.30M | +1.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $241.00M | $175.00M | $509.00M | $362.00M | $844.00M | +37.7% |
| Cash & short-term investments | $241.00M | $175.00M | $509.00M | $362.00M | $844.00M | +37.7% |
| Accounts receivable | $1.01B | $1.40B | $1.31B | $922.00M | $924.00M | -28.1% |
| Inventory | $824.00M | $642.00M | $791.00M | $903.00M | $736.00M | +28.3% |
| Total current assets | $2.87B | $3.02B | $3.47B | $2.75B | $3.19B | -5.3% |
| Property, plant & equipment | $32.33B | $31.53B | $30.68B | $29.69B | $28.85B | +2.5% |
| Total assets | $40.91B | $40.28B | $39.94B | $38.01B | $37.70B | +1.5% |
| Total current liabilities | $3.06B | $3.59B | $3.55B | $3.05B | $3.20B | -14.7% |
| Current debt | $870.00M | $1.36B | $956.00M | $1.16B | $1.13B | -36.0% |
| Long-term debt | $18.17B | $17.46B | $17.81B | $16.77B | $16.78B | +4.1% |
| Total debt | $19.30B | $19.08B | $18.90B | $18.07B | $18.05B | +1.2% |
| Total liabilities | $30.51B | $30.23B | $30.23B | $28.58B | $28.73B | +0.9% |
| Retained earnings | $2.55B | $2.60B | $2.44B | $2.32B | $2.21B | -2.3% |
| Shareholder equity | $9.77B | $9.47B | $9.14B | $8.86B | $8.39B | +3.3% |
| Working capital | -$197.00M | -$567.00M | -$76.00M | -$307.00M | -$3.00M | +65.3% |
| Net tangible assets | $9.77B | $9.47B | $9.14B | $8.86B | $8.39B | +3.3% |
| Shares issued | 313.60M | 308.90M | 306.41M | 304.30M | 299.30M | +1.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | $27.00M | $346.00M | $242.00M | $272.00M | $142.00M | — | -92.2% |
| Depreciation & amortisation | $320.00M | $400.00M | $342.00M | $288.00M | $301.00M | — | -20.0% |
| Change in working capital | $245.00M | -$21.00M | -$104.00M | -$227.00M | -$22.00M | — | +1,266.7% |
| Operating cash flow | $591.00M | $736.00M | $478.00M | $343.00M | $383.00M | — | -19.7% |
| Capital expenditure | -$1.10B | -$993.00M | -$1.11B | -$1.05B | -$1.08B | — | -10.8% |
| Investing cash flow | -$1.10B | -$993.00M | -$1.11B | -$1.05B | -$1.08B | — | -10.8% |
| Share buybacks | — | — | — | — | — | $0 | — |
| Dividends paid | -$50.00M | -$308.00M | -$167.00M | -$165.00M | -$60.00M | — | +83.8% |
| Financing cash flow | $273.00M | $223.00M | $817.00M | $210.00M | $1.44B | — | +22.4% |
| Free cash flow | -$509.00M | -$257.00M | -$634.00M | -$703.00M | -$697.00M | — | -98.1% |
| End cash position | $345.00M | $77.00M | $615.00M | $432.00M | $925.00M | — | +348.1% |
Options analytics
Put / call volume
0.06
Call-heavy session
Put / call open interest
0.49
Positioning, not flow
Max pain
70.00
+7.6% from spot
ATM implied vol
24.8%
Nearest strike to spot
Skew (10% OTM)
+24.5%
Puts bid over calls
Call volume
48
Contracts, this expiry
Put volume
3
Contracts, this expiry
Heaviest call OI
70.00
522 contracts
Heaviest put OI
65.00
166 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.36 | 0.37 | +3.1% |
| Mar 2026 | 1.10 | 1.13 | +2.7% |
| Dec 2025 | 0.94 | 0.95 | +1.5% |
| Sep 2025 | 0.86 | 0.93 | +8.4% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.12 | 10 | $2.17B | +7.2% |
| Next quarter | 1.25 | 10 | $2.32B | +3.8% |
| Current year | 3.87 | 14 | $8.96B | +4.9% |
| Next year | 4.16 | 15 | $9.38B | +4.7% |
Analyst targets & ownership
Mean target$77.58
High target$86.00
Low target$68.00
Implied upside19.23%
Analyst count12
ConsensusBUY
Strong buy / Buy3 / 4
Hold8
Sell / Strong sell0 / 0
Held by insiders0.55%
Held by institutions103.82%
Institutions holding1.13K
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
63.45
+2.56% from price
SMA 20
64.84
+0.36% from price
SMA 50
68.03
-4.35% from price
SMA 100
71.05
-8.41% from price
SMA 200
72.77
-10.59% from price
EMA 12
64.22
+1.33% from price
EMA 26
65.51
-0.67% from price
EMA 50
67.51
-3.62% from price
RSI (14)
45.9
Neutral
MACD (12,26,9)
-1.29
Hist 0.26
ATR (14)
0.99
1.52% of price
Realised vol 30D
12.8%
Annualised
Bollinger upper
68.23
20, 2σ
Bollinger lower
61.45
20, 2σ
50 / 200 cross
Death
68.03 vs 72.77
Trend bias
Below 200
-10.59%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.14
Less volatile than market
Correlation to SPY
-0.10
Largely independent
Realised vol 30D
12.8%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-21.7%
Peak to trough
Max drawdown 5Y
-31.3%
Peak to trough
ATR 14
0.99
1.52% of price
Beta (reported)
0.31
5Y monthly, from filing
Short interest
Shares short
16.35M
Prior 16.37M
Change vs prior
-0.1%
Shorts covering
% of float
5.89%
Normal
% of shares out
5.22%
Against total outstanding
Days to cover
5.3
Crowded exit
Float
311.47M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 6, 26 | BMO Capital | MAINTAINED | Outperform | Outperform |
| Sep 18, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Sep 15, 26 | Jefferies | MAINTAINED | Hold | Hold |
| Sep 8, 26 | BMO Capital | MAINTAINED | Outperform | Outperform |
| Aug 26, 26 | Argus Research | MAINTAINED | Buy | Buy |
| Aug 21, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Aug 4, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| Jul 29, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
| Jul 23, 26 | Keybanc | DOWNGRADE | Overweight | Sector Weight |
| Jul 22, 26 | BMO Capital | MAINTAINED | Outperform | Outperform |
| Jul 20, 26 | BMO Capital | MAINTAINED | Outperform | Outperform |
| Jul 16, 26 | JP Morgan | MAINTAINED | Overweight | Overweight |
Dividends & splits
Forward rate$2.28 / yr
Forward yield3.56%
5-year avg yield3.01%
Payout ratio66.82%
Ex-dividend dateAug 7, 2026
Next pay dateSep 1, 2026
Last split—
Split date—
SEC filings
Periodic Financial Reports
10-Q · 2026-07-28
Corporate Changes & Voting Matters
8-K · 2026-06-03
Corporate Changes & Voting Matters
8-K · 2026-04-28
Proxy Statements
DEFA14A · 2026-04-01
Annual Report to Shareholders
ARS · 2026-03-26
Proxy Statements
PRE 14A · 2026-03-13
Corporate Changes & Voting Matters
8-K · 2026-02-20
Periodic Financial Reports
10-K · 2026-02-10
Headlines
CMS Energy to Announce 2026 Third Quarter Results on October 27
PR Newswire · 6h ago
BMO Capital Adjusts Price Target on CMS Energy to $73 From $77, Keeps Outperform Rating
MT Newswires · 2d ago
Scotiabank Adjusts Price Target on CMS Energy to $78 From $87, Maintains Sector Outperform Rating
MT Newswires · 7d ago
CMS Energy (CMS) Stock Still Looks Cheap After Its 30% Run
Simply Wall St. · 9d ago
America Needs More Electricity. Here’s What It Could Mean for DTE Energy
24/7 Wall St. · 11d ago
Consumers Energy Makes Improvements to 2026 Storm Response
PR Newswire · 14d ago
DTE Could Be One of the Quiet Winners of the Data Center Boom
24/7 Wall St. · 18d ago
CMS Energy Stock: Is CMS Underperforming the Utility Sector?
Barchart · 19d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
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