Loading...
Docoh

Consumers Energy (CMS-PB)

CMS Energy was formed as a corporation in Michigan in 1987 and is an energy company operating primarily in Michigan. It is the parent holding company of several subsidiaries including Consumers, an electric and gas utility; CMS Enterprises, primarily a domestic independent power producer and marketer; and EnerBank, an industrial bank located in Utah. Consumers serves individuals and businesses operating in the alternative energy, automotive, chemical, food, and metal products industries, as well as a diversified group of other industries. CMS Enterprises, 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. EnerBank provides unsecured consumer installment loans, largely for financing home improvements.

CMS-PB stock data

Calendar

3 May 22
20 May 22
31 Dec 22
Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
93.4% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 604 571 +5.8%
Opened positions 96 82 +17.1%
Closed positions 63 66 -4.5%
Increased positions 225 173 +30.1%
Reduced positions 176 217 -18.9%
13F shares Current Prev Q Change
Total value 18.42B 17.18B +7.2%
Total shares 265.51M 264.4M +0.4%
Total puts 48K 48.2K -0.4%
Total calls 172.1K 132.4K +30.0%
Total put/call ratio 0.3 0.4 -23.4%
Largest owners Shares Value Change
Vanguard 35.95M $2.51B -0.0%
BLK Blackrock 25.01M $1.75B -4.9%
TROW T. Rowe Price 17.11M $1.2B -15.4%
STT State Street 16.33M $1.14B +11.0%
JPM JPMorgan Chase & Co. 16.19M $1.13B +1.3%
Capital International Investors 10.32M $721.47M -10.4%
Capital Research Global Investors 6.86M $479.61M -4.8%
Geode Capital Management 5.73M $399.56M +4.8%
BK Bank Of New York Mellon 4.94M $345.33M -9.0%
Pictet Asset Management 4.92M $344.21M -4.7%
Largest transactions Shares Bought/sold Change
TROW T. Rowe Price 17.11M -3.12M -15.4%
Caisse De Depot Et Placement Du Quebec 2.69M +2.69M NEW
BEN Franklin Resources 4.91M -2.2M -30.9%
Magellan Asset Management 2.42M +2.13M +743.3%
Cowa 1.73M +1.73M NEW
STT State Street 16.33M +1.61M +11.0%
Echo Street Capital Management 1.52M +1.51M +17389.2%
BAM Brookfield Asset Management 730.91K -1.31M -64.2%
BLK Blackrock 25.01M -1.28M -4.9%
Capital International Investors 10.32M -1.2M -10.4%

Financial report summary

?
Risks
  • CMS Energy depends on dividends from its subsidiaries to meet its debt service obligations.
  • CMS Energy has indebtedness that could limit its financial flexibility and its ability to meet its debt service obligations.
  • CMS Energy and Consumers have financing needs and could be unable to obtain bank financing or access the capital markets.
  • Market performance and other changes could decrease the value of employee benefit plan assets, which then could require substantial funding.
  • Changes to ROA could have a material adverse effect on CMS Energy’s and Consumers’ businesses.
  • Distributed energy resources could have a material adverse effect on CMS Energy’s and Consumers’ businesses.
  • CMS Energy and Consumers are subject to rate regulation, which could have a material adverse effect on financial results.
  • Utility regulation, state or federal legislation, and compliance could have a material adverse effect on CMS Energy’s and Consumers’ businesses.
  • CMS Energy and Consumers have announced an ambitious plan to reduce their impact on climate change. Achieving this plan depends on numerous factors, many of which are outside of their control.
  • Changes in taxation as well as the inherent difficulty in quantifying potential tax effects of business decisions could negatively impact CMS Energy and Consumers.
  • CMS Energy and its subsidiaries, including Consumers, must comply with the Dodd-Frank Act and its related regulations.
  • CMS Energy and Consumers could incur substantial costs to comply with environmental requirements.
  • CMS Energy’s and Consumers’ businesses could be affected adversely by any delay in meeting environmental requirements.
  • CMS Energy and Consumers expect to incur additional substantial costs related to remediation of legacy environmental sites.
  • There are risks associated with Consumers’ substantial capital investment program planned for the next ten years.
  • CMS Energy and Consumers could be affected adversely by legacy litigation and retained liabilities.
  • Consumers is exposed to risks related to general economic conditions in its service territories.
  • Consumers is exposed to changes in customer usage that could impact financial results.
  • CMS Energy’s and Consumers’ energy sales and operations are affected by seasonal factors and varying weather conditions from year to year.
  • CMS Energy and Consumers are subject to information security risks, risks of unauthorized access to their systems, and technology failures.
  • CMS Energy’s and Consumers’ businesses have liability risks.
  • CMS Energy and Consumers are subject to risks that are beyond their control, including but not limited to natural disasters, civil unrest, terrorist attacks and related acts of war, cyber incidents, vandalism, and other catastrophic events.
  • Energy risk management strategies might not be effective in managing fuel and electricity pricing risks, which could result in unanticipated liabilities to CMS Energy and Consumers or increased volatility in their earnings.
  • Consumers might not be able to obtain an adequate supply of natural gas or coal, which could limit its ability to operate its electric generation facilities or serve its natural gas customers.
  • Unplanned outages or maintenance could be costly for CMS Energy or Consumers.
  • The COVID-19 pandemic could materially and adversely affect each of CMS Energy’s and Consumers’ business, results of operations, financial condition, capital investment program, liquidity, and cash flows.
  • CMS Energy and Consumers are exposed to counterparty risk.
  • CMS Energy and Consumers are exposed to significant reputational risks.
  • A work interruption or other union actions could adversely affect Consumers.
  • Failure to attract and retain an appropriately qualified workforce could adversely impact CMS Energy’s and Consumers’ results of operations.
Management Discussion
  • For a summary of net income available to common stockholders for 2020 versus 2019, as well as detailed changes by reportable segment, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations, in the Form 10‑K for the fiscal year ended December 31, 2020, filed February 11, 2021.
  • 1See Note 2, Regulatory Matters.
  • 1Deliveries to end-use customers were 36.2 billion kWh in 2021 and 35.4 billion kWh in 2020.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: adherence, agricultural, antidumping, AOCI, attract, auxiliary, Bald, Bird, broad, China, Chinese, circumventing, coalition, combustion, Commerce, constitute, convert, correction, countervailing, cyberattack, decide, decided, decoupling, disagreement, Dispute, disputed, Eagle, Endangered, enforce, engineering, excavating, exempt, farm, firm, Golden, guaranty, hear, incidental, inconsistent, inquiry, intent, interstate, legacy, lineworker, listed, listing, manure, matched, migratory, neighbor, neighboring, nonattainment, notice, ongoing, oral, overhaul, placement, postponed, prospectively, ratemaking, recordkeeping, redesignation, reevaluation, refusal, remeasurement, residual, revert, revoke, salaried, sector, speculative, structural, Subtitle, surcharge, threshold, Toshiba, tracking, Treaty, trial, turn, Ukraine, union, unsatisfactory, upstream, wage, warranted, wildlife, workload
Removed: absence, alleviate, asserting, attack, authorizing, bill, breach, child, citing, cleaning, communicating, computer, concluding, controlling, coordination, cycle, educational, entitled, executed, flexibility, formally, fulfill, Great, home, hospital, hydrogen, immaterial, implemented, installment, IRS, leave, lifted, limiting, loan, mandatory, MCV, merit, methanol, offered, organization, panel, penalty, prepayment, refinancing, refund, renewal, research, restoration, restoring, restricting, resuming, senior, sequestered, small, stopped, study, surety, unsecured, varying, voluntarily