CMS Energy

What does CMS Energy own?
CMS Energy owns Consumers Energy, Michigan's largest combination electric and natural gas utility, and NorthStar Clean Energy, an independent power production and clean energy development subsidiary. The company serves approximately 6.8 million Michigan residents through its Consumers Energy subsidiary.

Is CMS Energy publicly traded?
Yes, CMS Energy Corporation trades on the New York Stock Exchange under the ticker symbol CMS. The company has been publicly traded since October 1987 and is a component of the S&P 500 index. Ownership is distributed among institutional investors, mutual funds, and individual shareholders.

Who founded CMS Energy?
The company traces its origins to 1886, when William Augustine Foote and Samuel Jarvis began efforts to electrify Jackson, Michigan. They formed Jackson Electric Light Works in 1888. The CMS Energy holding company was formally established in 1987.

Where is CMS Energy headquartered?
CMS Energy is headquartered in Jackson, Michigan, USA. The company has maintained its headquarters in Jackson since its founding in the 1880s, making it one of the oldest companies based in the city.

How many brands does CMS Energy own?
CMS Energy operates three primary brands: CMS Energy (the parent holding company), Consumers Energy (the regulated utility serving Michigan residents), and NorthStar Clean Energy (the non-utility clean energy subsidiary).

Who owns CMS Energy?
CMS Energy is an independent publicly traded corporation with no controlling shareholder. Shares are widely held by institutional investors, mutual funds, and individual shareholders. Major institutional holders include Vanguard Group, BlackRock, and State Street. Garrick Rochow serves as President and CEO.

What is CMS Energy's annual revenue?
For fiscal year 2025, CMS Energy reported operating revenue of $8.5 billion, up from $7.5 billion in FY2024. Adjusted earnings per share were $3.61, exceeding guidance. The company raised its 2026 adjusted EPS guidance to $3.83 to $3.90.

What is CMS Energy's clean energy strategy?
CMS Energy has committed to net zero greenhouse gas emissions from electric operations by 2040 and from its natural gas system by 2050. The company completed coal retirement in 2025 and has a 20-Year Renewable Energy Plan targeting 9 gigawatts of solar and 4 gigawatts of wind capacity, approved by the MPSC in 2025.

The company traces its origins to 1886, when William Augustine Foote and Samuel Jarvis approached Jackson, Michigan officials to illuminate the city's downtown with electric arc lights. Foote, a flour mill operator, had noticed electric lighting at a mill in Grand Rapids and saw an opportunity to bring the technology to Jackson. The pair formed Jackson Electric Light Works in 1888.

In 1889, the company built a hydroelectric plant at the Trowbridge Dam on the Kalamazoo River in Allegan, Michigan. Foote began consolidating small power companies across Michigan, eventually forming Commonwealth Power Company. In 1907, Foote and Jarvis built the Croton Hydro project on the Muskegon River, the first project in the world capable of transmitting 110,000 volts of electricity. This engineering achievement allowed power to be transmitted over long distances, a significant advance in the early electric industry.

In 1920, the company offered preferred shares to the public to finance expansion. Over the following decades, the company built coal-fired, natural gas, and nuclear generating facilities. In 1946, the company formed a partnership with Panhandle Company to convert depleted natural gas fields to underground storage areas, establishing a strategic advantage in gas storage that persists today.

CMS Energy was formally established as a holding company in 1987, with Consumers Power (later rebranded Consumers Energy in 1997) as its principal subsidiary. The company began trading on the New York Stock Exchange on October 23, 1987, under the ticker symbol CMS.

In the 2000s and 2010s, CMS Energy invested heavily in renewable energy infrastructure. The company opened the Cross Winds Energy Park wind farm in Tuscola County in 2014. In 2016, the company retired seven coal-fired generating plants, accelerating its transition away from coal.

In 2020, Garrick Rochow became President and CEO. Under Rochow's leadership, CMS Energy accelerated its clean energy transition. The company completed the retirement of its remaining coal-fired generation in 2025, meeting a commitment to eliminate coal two years ahead of the original target.

In 2025, the Michigan Public Service Commission approved CMS Energy's 20-Year Renewable Energy Plan, which expands the company's long-term portfolio to 9 gigawatts of solar and 4 gigawatts of wind capacity. The plan positions the company to meet Michigan's 2023 Energy Law requirements for 60% renewables by 2035 and 100% clean energy by 2040.

CMS Energy reported FY2025 operating revenue of $8.5 billion, up from $7.5 billion in FY2024. Adjusted EPS was $3.61, exceeding guidance and representing 8% growth over FY2024's $3.34. The company raised its 2026 adjusted EPS guidance to $3.83 to $3.90 and reaffirmed long-term adjusted EPS growth of 6 to 8 percent.

CMS Energy has committed to net zero greenhouse gas emissions from its electric operations by 2040 and from its natural gas system by 2050. The company completed the retirement of all coal-fired generation in 2025, two years ahead of its original target. Its 20-Year Renewable Energy Plan, approved by the MPSC in 2025, calls for 9 gigawatts of solar and 4 gigawatts of wind capacity.

The company's Clean Energy Plan includes approximately $8.5 billion in electric reliability investments through its Reliability Roadmap, which replaces aging infrastructure with more durable materials designed to withstand severe weather. In 2025, CMS Energy invested approximately $1 billion in its gas distribution system to ensure safe delivery and reduce methane emissions.

CMS Energy publishes an annual Sustainability Report and participates in the CDP climate disclosure program. The company is not a Certified B Corporation. Its carbon-neutral commitment is a corporate target rather than an independent certification.

On environmental justice, CMS Energy has developed programs to ensure equitable access to clean energy benefits and has committed to workforce development initiatives in underserved communities. The company's energy efficiency program helps customers reduce consumption and lower utility bills.

CMS Energy has committed to powering 1 million electric vehicles in its service area by 2030 and is expanding EV charging infrastructure across Michigan.

CMS Energy has received recognition for its sustainability initiatives and workplace practices. The company's energy efficiency program was rated top in the nation by the American Council for an Energy-Efficient Economy (ACEEE) in 2025. CMS Energy has been recognized by Diversity Inc. as one of the Top 50 Companies for Diversity in multiple years.

The company has received EPA ENERGY STAR Partner recognition for its energy efficiency programs and customer education initiatives. CMS Energy has also been recognized as a Great Place to Work and has received Michigan Green Leader awards for its environmental initiatives.

CMS Energy operates under extensive regulatory oversight from the Michigan Public Service Commission, which reviews rate cases, infrastructure investments, and service quality. The company's rate increase requests have faced scrutiny from consumer advocacy groups and the Michigan Attorney General's office, which periodically reviews rate proposals to ensure alignment with public interest requirements.

In 2024 and 2025, CMS Energy faced regulatory questions regarding grid reliability following severe weather events that caused extended power outages. The MPSC ordered the company to submit detailed reliability improvement plans and invest in grid hardening measures. CMS Energy responded with its Reliability Roadmap, an approximately $8.5 billion investment plan to replace aging infrastructure and reduce outage frequency and duration.

Environmental groups have criticized CMS Energy for continuing to invest in natural gas infrastructure while pursuing renewable energy goals. Critics argue that new fossil fuel infrastructure could become stranded assets as Michigan moves toward 100% clean energy by 2040. The company has defended its gas investments as necessary for reliability during the transition period.

The company has also faced scrutiny over per- and polyfluoroalkyl substances (PFAS) contamination at former manufacturing sites. CMS Energy has cooperated with state environmental regulators on remediation efforts and has reported progress in cleanup activities.