CMS Energy is a utility company based in Michigan. It provides electricity and natural gas to about 6 million residents. Michigan has around 10 million residents in total. So, a large portion of the population uses the services of CMS Energy Corporation. CMS Energy Corporation also has a non-utility business segment that focuses on power generation, including renewable energy. CMS Energy was founded in 1886. Over a century, it evolved into the utility major that it is today. CMS Energy has around 8,200 employees and generated $6.7 billion in revenue in the year 2020. In spite of a difficult economic environment, CMS Energy, like most utility companies, operated its business without much disruption. That is one of the positive aspects of investing in utility companies – they tend to be recession-resistant. If you are an investor looking for long-term utility stocks to buy, then CMS Energy Corporation could be one candidate.
More About CMS Energy Corporation
CMS Energy Corporation may be a utility. But, it is taking serious efforts on the ESG front as well. The company has already declared its commitment to go net carbon zero by the year 2040 and net-zero methane by the year 2030. About 12% of the company’s generated energy is clean energy. At the moment, natural gas and coal are the two largest sources of energy that CMS provides its residential customers. Coal is planned to be totally eliminated by the year 2040, while the share of natural gas is expected to drop down to 10%. CMS Energy is among the high-quality list of utility stocks to invest in at the moment.
Long Term Utility Stocks To Buy
CMS Energy trades on the New York stock exchange under the ticker symbol CMS. Its stock closed at $59.91 on 2nd July 2021. CMS Energy has also paid reasonable dividends in recent times. Its dividend yield has ranged between 2.5% and 3% for about eight years now.
