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Last $32.49 USD
Change Today +0.25 / 0.78%
Volume 2.2M
CMS On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One Energy Plaza

Jackson, MI 49201

United States

Phone: 517-788-0550

Fax:

CMS Energy Corporation operates as an energy company in Michigan. The company’s subsidiary, Consumers Energy Company (Consumers), serves individuals and businesses operating in the alternative energy, automotive, chemical, metal, and food products industries, as well as a diversified group of other industries. The company’s another subsidiary, CMS Enterprises, is primarily a domestic independent power producer. CMS Enterprises, through its subsidiaries and equity investments, is engaged primarily in independent power production and owns power generation facilities fueled mostly by natural gas and biomass. Consumers Consumers owns and operates electric distribution and generation facilities and gas transmission, storage, and distribution facilities. It provides electricity and/or natural gas to 6.6 million of Michigan’s 10 million residents. Consumers’ rates and certain other aspects of its business are subject to the jurisdiction of the Michigan Public Service Commission and Federal Energy Regulatory Commission. In 2014, Consumers served 1.8 million electric customers and 1.7 million gas customers in Michigan’s Lower Peninsula. Segments Consumers Electric Utility segment Electric Utility Operations: Consumers’ electric utility operations include the generation, purchase, distribution, and sale of electricity. Consumers’ electric utility customer base consists of a mix of primarily residential, commercial, and diversified industrial customers in Michigan’s Lower Peninsula. Seasonality: Consumers’ electric utility operations are seasonal. The consumption of electric energy typically increases in the summer months, due primarily to the use of air conditioners and other cooling equipment. Electric Utility Properties: Consumers’ distribution system consists of: 434 miles of high-voltage distribution radial lines operating at 120 kilovolts or above; 4,261 miles of high-voltage distribution overhead lines operating at 23 kilovolts, 46 kilovolts, and 69 kilovolts; 18 miles of high-voltage distribution underground lines operating at 23 kilovolts and 46 kilovolts; 56,022 miles of electric distribution overhead lines; 10,304 miles of underground distribution lines; and substations with an aggregate transformer capacity of 24 million kVA. Consumers Gas Utility segment Gas Utility Operations: Consumers’ gas utility operations include the purchase, transmission, storage, distribution, and sale of natural gas. Consumers’ gas utility customer base consists of a mix of primarily residential, commercial, and diversified industrial customers in Michigan’s Lower Peninsula. Gas Utility Properties: Consumers’ gas distribution and transmission system consists of: 27,169 miles of distribution mains; 1,685 miles of transmission lines; 7 compressor stations with a total of 168,721 installed and available horsepower; and 15 gas storage fields with a total storage capacity of 309 bcf and a working gas volume of 151 bcf. Enterprises segment – Non-Utility Operations and Investments CMS Energy’s enterprises segment, through various subsidiaries and certain equity investments, is engaged primarily in domestic independent power production and the marketing of independent power production. Independent Power Production: As of December 31, 2014, CMS Energy had ownership interests in independent power plants totaling 1,135 megawatts (MW) or 1,035 net MW. Energy Resource Management: CMS Energy Resource Management Company purchases and sells energy commodities in support of CMS Energy’s generating facilities with a focus on optimizing CMS Energy’s independent power production portfolio. In 2014, CMS ERM marketed 19 bcf of natural gas and 4,681 GWh of electricity. Other Businesses EnerBank: EnerBank is a Utah state-chartered, Federal Deposit Insurance Corporation-insured industrial bank providing unsecured consumer installment loans for financing home improvements. History CMS Energy Corporation was founded in 1987.

 

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Industry Analysis

CMS

Industry Average

Valuation CMS Industry Range
Price/Earnings 19.4x
Price/Sales 1.3x
Price/Book 2.3x
Price/Cash Flow 7.5x
TEV/Sales NM Not Meaningful
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