CMS Energy (CMS)
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-05
$70.68-0.42%
Close 2026-11-05 · 1-day change
NYSEUtilitiesRegulated ElectricSnapshot 2026-11-05
QuarterlyIQ Insights · CMS
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 4.6% |
| Our one-year growth estimate | diamond | 3.5% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the opposite direction.
Price observations: 365 days
Usually moved in the opposite direction.
Price observations: 365 days
Most sensitive to real (inflation-adjusted) rates and long-term interest rates.
Based on historical daily prices through 2026-11-05.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 1.0 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-05 · Compared with 20 industry peers · Company calendar date is not available
CMS — debt issuance
Dated 2026-11-03
Other Events. On November 3, 2026, CMS Energy Corporation ("CMS Energy") issued and sold $1,000,000,000 aggregate principal amount of its 6.800% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 (the “Notes”), pursuant to a Registration Statement on Form S-3 that CMS Energy filed with the Securities and Exchange Commission utilizing a “shelf” registration process (No. 333-293382) (the "Registration Statement"), a Preliminary Prospectus Supplement dated October 29, 2026 to the Prosp…
Why it matters: Q3 adjusted EPS included $1.45 per share from impairment and restructuring. Fewer such charges would mark progress; more charges could weigh on reported results.
Watch forA later quarter shows lower NorthStar costs for impairment and restructuring than Q3's $456 million.
Also watch forA later quarter shows NorthStar impairment and restructuring costs of $456 million or more.
Why it matters: Q3 operating income fell to $47 million from $481 million a year earlier. A rebound would ease concern about the sharp drop in reported operating income.
Watch forQ4 operating income is above $47 million, the Q3 2026 result.
Also watch forQ4 operating income is $47 million or less.
Why it matters: CMS introduced this range in July and repeated it in October. A change would signal a shift in its earnings outlook.
Watch forCMS confirms 2027 adjusted EPS guidance of $4.08–$4.17 or raises the range.
Also watch forCMS lowers or withdraws its 2027 adjusted EPS guidance.
Why it matters: CMS kept this range after reporting $2.95 per share through September. The fourth-quarter result will show whether it met the full-year goal.
Supportive ifCMS reports 2026 adjusted EPS of at least $3.83, within or above its $3.83–$3.90 range.
Worry ifCMS reports 2026 adjusted EPS below $3.83 or cuts its guidance before year-end.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$70 on $10,000 · ±0.7% | How much price usually moves either way. |
| Bad day | $178 loss on $10,000 · 1.8% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $2,169 loss on $10,000 · 21.7% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.