Truist Securities Cuts CMS Energy (CMS) Price Target to $77

Truist Securities has reaffirmed its Buy rating on CMS Energy, adjusting the price target to $77, a 12.08% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:21 PM EDT

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Truist Securities cut its price target on CMS Energy Corporation ($CMS) to $77 from $81 on October 14, 2026, and rates the stock "Buy".

Since the rating, $CMS is up 2.8% to date (from the $66.82 close on Oct 14, 2026).

CMS CMS Energy Corporation

$68.70 -0.15% year to date

Daily close · Oct 16, 2026

Key Points

On October 14, 2026, Truist Securities reiterated its Buy rating on CMS Energy Corporation with a new price target of $77, down from $81.
Truist Securities's $77 price target implies 12.08% upside from CMS Energy Corporation's ($CMS) current $68.70 share price.
CMS Energy shares recently traded around $68.7, which is about 10.8% below the new target price.
The company has a dividend rate of $2.28, reflecting a payout ratio of 66.9%.

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Truist Securities has reaffirmed its Buy rating on CMS Energy Corporation (NYSE: CMS) with a revised price target of $77 on October 14, 2026. This target is a decrease from the previous $81. CMS Energy shares are currently trading around $68.7, which places them about 10.8% below the new target price.

Other Institutional Activity in CMS Energy

Blackrock Inc. trimmed its position in CMS Energy, selling 493,365 shares and ending up with 33,068,880 shares valued at approximately $2.27 billion. Vanguard Capital Management LLC increased its holdings by 290,201 shares, bringing its total to 20,166,948 shares worth about $1.39 billion. Similarly, Vanguard Portfolio Management LLC added 257,470 shares, resulting in 19,050,893 shares valued at around $1.31 billion. State Street Corporation reduced its stake by 392,742 shares, leaving it with 17,705,946 shares worth about $1.22 billion. JPMorgan Chase & Co. grew its holdings by 570,210 shares, totaling 16,409,389 shares valued at approximately $1.13 billion.

CMS Energy Corporation Stock Up 5.1%

CMS Energy's shares are currently trading below the newly set target price, which could signal potential for growth if the stock rebounds. The shares closed at $68.7 recently, reflecting a gap to the target and indicating possible investor interest if they approach the target price.

12-month forecast

$CMS price target

CMS Energy Corporation daily closes and this analyst's $77 target. Not advice.

Recent Earnings

For the trailing twelve months, CMS Energy reported revenue of approximately $8.81 billion and earnings per share (EPS) of $3.33. The company has a net margin of 11.6% and a return on equity (ROE) of 9.2%. The next earnings report is scheduled for October 29, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

D+ 46/100

Reported Apr 28, 2026

Forward outlook
2 target cuts vs 1 raises.
EPS & revenue
EPS beat estimates by 1.9%. Revenue beat estimates by 10.5%.
Profit surprise
EBITDA missed by 4 percent. Operating income met by 0 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
1 target raise, 2 target cuts.
Earnings quality
Gross margin up 13.9 points. Operating margin down 2.2 points. Positive free cash flow.

Earnings Call Summary

CMS delivered first quarter adjusted earnings of $1.13 per share, beating consensus by $0.02, aided by rate relief and strong performance at NorthStar. Revenue of $2.73 billion beat consensus of $2.47 billion. The company is making progress on two major data center prospects that could materialize starting in 2028 and signed about $110 million worth of new industrial load contracts year to date. Management emphasized Michigan's attractiveness for growth with over 100 megawatts of new load signed so far in 2026, including Michigan Potash and Salt Company. An ice storm in March offset some gains.

Guidance CMS reaffirmed full year earnings guidance of $3.83 to $3.90 per share, expressing confidence toward the high end. The company expects 6 percent to 8 percent long-term adjusted earnings per share growth paired with approximately 3 percent dividend yield. Management believes new data center load and manufacturing growth in Michigan will support 2 percent to 3 percent annual sales growth over the next five years.

Negative report. Results or guidance disappointed and expectations are likely to move lower.

Dividend

CMS Energy pays an annual dividend rate of $2.28 per share, which results in a dividend payout ratio of 66.9%. This indicates a commitment to returning value to shareholders while maintaining a sustainable payout.

Insider Buying and Selling at CMS Energy Corporation

Insider trading activity shows that Brandon J. Hofmeister, an officer at CMS Energy, sold 4,000 shares on February 27, 2026, at an average price of $78.24, totaling about $312,940. Additionally, Scott B. McIntosh, also an officer, sold 1,750 shares on March 2, 2026, for around $136,859. Earlier, Hofmeister sold another 3,000 shares on May 26, 2026, for about $222,930. However, Srikanth Maddipati, another officer, bought 200 shares on July 31, 2026, at an average price of $72.46, totaling about $14,491.

Analysts Set New Price Targets

On October 14, 2026, Truist Securities maintained its Buy rating on CMS Energy with a price target of $77. BMO Capital also recently maintained an Outperform rating with a target of $77, while Jefferies and Morgan Stanley upheld their ratings of Hold and Equal-Weight, with targets of $74 and $77, respectively.

About CMS Energy

CMS Energy Corporation is an energy company based in Michigan that operates through three segments: Electric Utility, Gas Utility, and NorthStar Clean Energy. The Electric Utility segment handles the generation and distribution of electricity, utilizing various sources including coal, wind, and renewable energy. This rating update comes as the company prepares for its next earnings report on October 29, 2026.

Bottom Line

Investors should watch for CMS Energy's upcoming earnings report on October 29, 2026, as it may provide further insight into the company's performance. Truist's reiteration of the Buy rating suggests confidence in the company's long-term prospects despite the recent price target adjustment.