CMS Energy

CMS · NYSE

$68.42+$1.05 (+1.56%)TodayMarket closed · Oct 20, 7:45 PM ET

Prev close $67.37

CMS analyst rating

BuyConsensus of 11 analysts over the last 12 months. 55% rate it a buy.

Strong buy0
Buy6
Hold5
Underperform0
Sell0

12-month price target · 15 analysts

Average $79.76 (+16.6% upside)

Low: $70.05
Now: $68.42
High: $90.30

Upgrades and downgrades

The latest rating actions, newest first

CMS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 19, 2026	Maintains	Outperform	$73.00 → $76.00	59%
Barclays	Oct 16, 2026	Maintains	Overweight	$81.00 → $72.00	51%
Truist Securities	Oct 14, 2026	Maintains	Buy	$81.00 → $77.00	42%
BMO Capital	Oct 6, 2026	Maintains	Outperform	$77.00 → $73.00	59%
Morgan Stanley	Sep 18, 2026	Maintains	Equal-Weight	$79.00 → $77.00	58%
Jefferies	Sep 15, 2026	Maintains	Hold	$78.00 → $74.00	57%
BMO Capital	Sep 8, 2026	Maintains	Outperform	$82.00 → $77.00	59%
Argus Research	Aug 26, 2026	Maintains	Buy	$80.00	47%
Morgan Stanley	Aug 21, 2026	Maintains	Equal-Weight	$80.00 → $79.00	58%
Truist Securities	Aug 4, 2026	Maintains	Buy	$85.00 → $81.00	42%

The case for and against

Updated Oct 19, 2025

Bull case

CMS Energy has demonstrated solid year-over-year growth, with earnings increasing by $0.05, attributed primarily to the electric utility's contributions of $0.08 and the gas utility's $0.14. Key drivers for this performance include $0.11 in rate relief and $0.05 from higher sales due to favorable weather conditions, which underline the utility's robust operational efficiency and demand. Furthermore, the company's potential for continued multiple expansion is supported by its premium, visible, above-average earnings growth and improvements in capacity pricing at its NorthStar Clean Energy segment.

Bear case

CMS Energy's stock outlook is negatively impacted by tightening monetary policy, which could hinder the company's financial flexibility and overall performance. Additionally, a slowdown in the growth of its rate base raises concerns about future revenue generation from its regulated utility segment, Consumers Energy. Lastly, the potential repeal of the Inflation Reduction Act (IRA) poses risks to the company's renewable energy projects under its NorthStar Clean Energy division, increasing the difficulty of achieving profitability in these ventures.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.