With a market cap of $21.3 billion, CMS Energy Corporation (CMS) operates through Electric Utility, Gas Utility, and NorthStar Clean Energy segments, providing electricity and natural gas services to residential, commercial, and industrial customers. The company serves approximately 1.9 million electric and 1.8 million gas customers across the state.

The Jackson, Michigan-based company is set to announce its fiscal Q4 2025 results soon. Ahead of this event, analysts forecast CMS to report an adjusted EPS of $0.96, up 10.3% from $0.87 in the year-ago quarter. It has surpassed Wall Street's earnings estimates in three of the last four quarters while missing on another occasion. 

For fiscal 2025, analysts expect the energy company to report an adjusted EPS of $3.59, a rise of 7.5% from $3.34 in fiscal 2024.

Shares of CMS have returned 5.6% over the past 52 weeks, underperforming both the S&P 500 Index's ($SPX) 17.7% increase and the State Street Utilities Select Sector SPDR ETF's (XLU) 11.9% gain over the same period. 

Shares of CMS Energy rose 1.3% on Oct. 30 after the company posted stronger-than-expected Q3 2025 adjusted EPS of $0.93 and revenue of $2.02 billion. Confidence was further boosted by CMS Energy raising its 2025 adjusted EPS guidance to $3.56 - $3.60 and initiating 2026 guidance at $3.80 - $3.87.

Analysts' consensus view on CMS’ stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among 16 analysts covering the stock, eight recommend "Strong Buy" and eight suggest "Hold." The average analyst price target for CMS Energy is $79.15, suggesting a potential upside of 13.1% from current levels. 

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