InsiderStreet Equity Research

Produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation for any investor. Do not rely on it for any investment decision.

Last Close

$68.70

2026-10-16

Market Cap

$21.5B

Volume

7.6M

52-Wk High

$80.36

52-Wk Low

$62.29

Trailing PE

20.3

P/S

2.44

Gross Margin

69.7%

Net Margin

11.6%

ROE

11%

ROIC

3%

Piotroski

5/9

Altman Z

0.9

1-Yr Return

-7.4%

5-Yr Return

+34.6%

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.

SectorUtilitiesIndustryRegulated ElectricExchangeNYSEMarket Cap$21.5BEmployees8,350 (SEC-filed)CEOGarrick J. RochowIPO1973-02-21CountryUS

One Energy Plaza, Jackson, MI 49201 · Tel 517 788 0550 · cmsenergy.com

INSIDERSTREET SCORE37 / 100Street mean $78.10 (10 analysts, last qtr) — their number, not ours

INSIDER CONSENSUS SIGNALTWO-WAY FLOW$0.2M buys against $0.7M sells / 6 mo

1 Year vs S&P 500 · CMS -7.4% · S&P 500 +15.9% · spread -23.3pp

7 Years vs S&P 500 · CMS +34.6% · S&P 500 +189.9% · spread -155.3pp

Both charts indexed to 100 at the start of their window and drawn on a single shared scale, so the gap to the benchmark is the gap you see. Adjusted closes throughout.

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INSIDERSTREET
SCORE37of 100

Score Breakdown

Profitability	44/100
Growth	47/100
Momentum	76/100
Quality	62/100
Earnings Quality	83/100
Balance Sheet	24/100
Value	54/100
Risk (safety)	15/100
Overall	36.8/100

Each component is a diagnostic reading on its own 0-100 scale. The overall score is computed separately from the underlying financials and is not the average of the rows above — components are not equally weighted and three of them (Momentum, Value, Risk) are derived partly from price rather than from the business.

Peer Comparison — IS Score

Symbol	IS Score
EIX	47
DTY	43
EVRG	38
ES	42
LNT	37
PPL	43
CMS	37

IS Score Trend — quarterly

14 quarters, 23 Q1 to 26 Q2. Peak 41 in 25 Q4, latest 37 — -5 since. Fell in 3 of the last 4 quarters. Dashed line marks 40 on the 0-100 scale.

BUSINESS QUALITY37 / 100IS Score 36.8 / 100 · -4.6 from peak of 41

Fundamental factor model, quarterly. Measures how the business is doing - not where the price is going.

PRICE STRUCTUREBULLISHTechnical Score 78 / 100 · Power +57 · 18 of 22 indicator votes bullish

Vote share across trend, momentum, volume, volatility and pattern families. Describes where the price is, not where it is going.

These two disagree — business quality 37, price structure 78 out of 100, so the price reads better than the business does. We publish the disagreement rather than resolving it: they answer different questions, and the gap between them is information, not an error.

Trigger	Where it stands now	What it would mean
IS Score reaches 55 and holds two consecutive quarters	now 36.8	would move us up one band
IS Score stops falling - one quarter higher than the prior	last four: 37 → 41 → 41 → 37	the direction matters more than the level
Technical vote share back above 50%	now 82%	price structure no longer broken
Institutional holder count rises two quarters running	peak 823 → now 823	fewer institutions willing to hold is our clearest warning

We publish these so the view can be shown to be wrong. If none of them move and our reading does, we owe you an explanation.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

This page is InsiderStreet's own reading, produced from the data in the rest of this document. It is not a price target and not investment advice. Analyst consensus and street price targets appear later under their own heading and are the street's numbers, not ours.

Site Convergence Score4 of 4top 0% of 29,420 symbols

Sources Aligned— of 3independent disclosures

Congress (180d)1 buys2026-09-25

Insider Buys (180d)1$0.01M

ETF Funds (30d)1016 up / 712 downnet +304 funds

Institutions Added (13F)20managers opening or increasing

Congressional and insider figures are disclosed purchases in the trailing 180 days; ETF figures are COUNTS OF FUNDS whose holding changed in 30 days, not dollars. Coincidence of separate disclosures, not coordination. An absent source means nothing qualifying was disclosed in its window.

Institutions holding — 12 quarters

Peak 823 · latest 823 (+0 from peak).

Quarter	Holders	13F shares	Value	Reported own%	Guard
2026 Q2	823	317.5M	$23.9B	105.6%	ex-outlier 94.6%
2026 Q1	803	297.7M	$22.7B	99.0%
2025 Q4	805	293.6M	$20.1B	97.7%
2025 Q3	778	289.3M	$20.6B	96.3%
2025 Q2	749	295.3M	$19.8B	98.3%
2025 Q1	736	287.0M	$20.1B	95.5%
2024 Q4	718	284.4M	$17.8B	94.6%
2024 Q3	710	284.9M	$19.0B	94.8%
2024 Q2	685	278.1M	$16.1B	92.5%
2024 Q1	666	279.9M	$16.4B	93.1%
2023 Q4	637	280.7M	$16.0B	93.4%
2023 Q3	618	276.1M	$14.4B	91.9%

How to read ownership above 100%. A 13F reports the positions a manager has investment discretion over, and where two or more managers share discretion over the same block, each one reports it. Summed across filers, the total can therefore exceed the shares actually outstanding without anything being wrong. We publish the figure as filed rather than netting it down, and flag separately any quarter where the arithmetic is not merely high but impossible.

Why 2026-06 reads 105.63%. Institutions cannot hold more of a company than exists. The reported 317.5M shares exceed the 300.6M outstanding, and a single filer accounts for the excess: BlackRock, Inc. reports 33,068,880 shares against 33,563,574 the prior quarter, a 1x jump, which alone would be 11.0% of the company. Excluding that filing, ownership is 94.6%. We publish both figures. 13F filings are due 45 days after quarter end and amendments keep arriving after that, so the newest quarter is provisional by construction - this is what an unsettled quarter looks like.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Insider	Role	Date	Type	Shares	Value	Post-Txn Owned
Maddipati Srikanth	EVP/CFO	2026-07-31	BUY	200	$0.01M	34,895
Maddipati Srikanth	EVP/CFO	2026-06-15	A-Award	10,184	—	34,695
Hofmeister Brandon J.	Senior Vice President	2026-05-26	SELL	3,000	$0.22M	67,111
Wright Laura	director	2026-05-08	A-Award	2,411	—	43,623
Tanski Ronald J	director	2026-05-08	A-Award	2,411	—	20,903
Russell John G	director	2026-05-08	A-Award	2,411	—	134,068
Keyes Richard Patrick	director	2026-05-08	A-Award	2,411	—	3,180
Sznewajs John G	director	2026-05-08	A-Award	2,411	—	37,594

6-mo decomposition (Form 4)	Txns	Shares	Value	Signal weight
S — Open-market sales	3	8,750	$0.7M	Counted
P — Open-market purchases	2	2,200	$0.2M	Counted
F — Tax withholding	7	46,606	$3.6M	None — compensation
G — Gifts	1	2	—	None

Monthly Net Insider Flow (000 shares)

Net of acquisitions minus dispositions, all Form 4 types.

Signal Summary

SignalTwo-Way Flow

Open-Market Sells$0.7M3 txns / 6 mo

Open-Market Buys$0.2M2 txns / 6 mo

ClusterNone active3+ insiders / 21 days

Member	Chamber	Trade	Size band	Traded	Disclosed
Ro Khanna	House	BUY	$1,001 - $15,000	2026-09-25	2026-10-09
Ro Khanna	House	SELL	$1,001 - $15,000	2026-01-29	2026-02-10
Julie Johnson	House	SELL	$1,001 - $15,000	2025-12-18	2026-01-16
Shelley Moore Capito	Senate	BUY	$1,001 - $15,000	2022-06-01	2022-07-15
Shelley Moore Capito	Senate	BUY	$1,001 - $15,000	2022-06-01	2022-07-14
Shelley Moore Capito	Senate	BUY	$1,001 - $15,000	2022-06-01	2022-07-14

House 12-Mo19 trades6 purchases

Senate 12-Mo0 tradesNone purchases

CoverageSTOCK Act filings30-45 day disclosure lag

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

13F Filers (last complete Q)803

13F Shares298M99.0% of shares out

New / Closed105 / 94positions, QoQ

Increased / Reduced311 / 248positions, QoQ

Put/Call (13F)0.56option positions

Free Float31.9%100M sh

2.8 · Largest Reporting 13F Managers

Manager	Shares	Value
Assenagon Asset Management S.A.	897,581	$57M
Fisher Funds Management Ltd	353,356	$22M
Artemis Investment Management Llp	181,944	$11M
Fjarde Ap-Fonden /Fourth Swedish N	167,146	$11M
Y-Intercept	99,556	$6M
Ifm Investors Pty Ltd	99,483	$6M

EDGAR 13F holdings as of 2026-09-30; filer values normalized to dollars.

2.9 · Top ETF & Fund Ownership

Fund	Weight	Position
VITSX	0.0%	$624M
VTSAX	0.0%	$624M
VSMPX	0.0%	$624M
VTI	0.0%	$624M
VFINX	0.0%	$519M
VFIAX	0.0%	$519M

13F Filers Holding CMS — quarterly

Institutional Put/Call — quarterly

Daily short-sale volume as % of volume reported in FINRA's short-sale file — a flow measure, not short interest; dashed = 50-day average.

Latest Session58.4%2026-10-15

20-Day Avg52.2%50-day 52.4%

TrendFalling20d vs 50d

By Market CenterQ: 58% · N: 67% · B: 30%latest session

Weekly Notional ($B)

Where CMS Trades in the Dark

ATS Venue (4-wk)	Shares	Avg trade
Incr Intelligent Cross Llc	2.9M	50 sh
Ubsa Ubs Ats	2.4M	50 sh
Ebxl Level Ats	1.8M	32 sh
Mstx Ms Trajectory Cross (Ats-1)	1.5M	47 sh
Mlix Instinct X	1.4M	77 sh
Sgmt Sigma X2	1.4M	52 sh

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Where a dollar of CMS Energy Corporation revenue goes. All values FY2025 filings, live.

CMS (live moat model)Peer median: EIX · DTY · EVRG · ES · LNT

Component scores from the live moat model. Peer median illustrative.

Moat score 42/100 — Weak; primary source Intangible Assets.

3.8 · Employees (SEC filings)

Officer	Title
Garrick J. Rochow	President, Chief Executive Officer & Director
Shaun Johnson	EVice President of Business Transformation & Chief Legal & Administrative Officer
LeeRoy Wells Jr.	SVP and President of Gas Delivery of Consumers Energy Company
Brandon J. Hofmeister	Senior Vice President of Strategy, Sustainability & External Affairs

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Revenue ($B)

EPS ($) — GAAP diluted actual, street-basis estimate

Actual bars are GAAP diluted EPS from the filed income statement; the lighter forward bars are street-basis consensus. The two are different measures and are not comparable quarter to quarter.

Quarterly EPS — Actual vs. Consensus

Beats (>2%)4 of 6recent quarters

Avg Surprise+3.5%

Next Report2026-10-27

Income Quality2.42OCF ÷ net income

Beat Rate—%0 of 0 quarters

Current Streak0longest 0

Avg EPS Surprise—%median —%

Surprise Trend—last 4 vs prior 4

Period	EPS est.	EPS actual	EPS surprise	Rev est. ($M)	Rev actual ($M)	Rev surprise

Announcement dates to . Consensus as it stood at each report. Revenue surprise shown where both estimate and actual are filed. A beat record is history, not a forecast.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Profit Margins (%)

Revenue by Segment — Stacked

Live segmentation data.

YoY Growth Heatmap — Income Lines

YoY growth	FY21	FY22	FY23	FY24	FY25
Revenue	+14.2%	+17.3%	-13.2%	+0.7%	+13.6%
Gross profit	+0.7%	+4.3%	+3.6%	+12.1%	+62.1%
Operating income	-6.8%	+6.8%	+0.9%	+20.4%	+16.1%
Net income	+79.2%	-38.1%	+6.0%	+13.1%	+6.8%

$B · FY ends	FY21	FY22	FY23	FY24	FY25
Revenue	7.3	8.6	7.5	7.5	8.5
Cost of revenue	4.7	5.8	4.6	4.3	3.3
Gross profit	2.6	2.8	2.9	3.2	5.2
R&D expense	0.0	0.0	0.0	0.0	0.0
SG&A expense	0.0	0.0	0.0	0.0	3.5
Operating income	1.1	1.2	1.2	1.5	1.7
EBITDA	2.4	2.5	2.8	3.1	3.2
D&A	1.1	1.1	1.2	1.2	1.2
Pretax income	0.8	0.9	1.0	1.1	1.2
Income tax	0.1	0.1	0.1	0.2	0.2
Net income	1.4	0.8	0.9	1.0	1.1
Diluted EPS ($)	4.66	2.85	3.01	3.33	3.53
Diluted shares (M)	290	290	292	298	301

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Operating CF$2B

CapEx$4B

Free cash flow$-2B

SBC$0B

Buybacks$0B

Net cash change$0B

Shown instead of the usual cash-distribution diagram because operating cash flow was not positive this year — there was no internally generated cash to distribute, so the decision-relevant question is what funded the spending. Sources left, uses right; cash is fungible and the statement does not trace which rupee of borrowing bought which asset, so the band is proportional, not a claim about specific flows. Any residual from FX translation is carried explicitly as Other / FX.

Balance Sheet — Full

$B	FY22	FY23	FY24	FY25
Cash & equivalents	0.2	0.2	0.1	0.6
ST investments	0.0	0.0	0.0	0.0
Receivables (net)	1.6	0.9	1.1	1.3
Total current assets	3.4	2.8	2.8	3.5
PP&E (net)	22.7	25.1	27.5	30.7
Goodwill + intangibles	0.0	0.0	0.0	0.0
Total assets	31.4	33.5	35.9	40.4
Accounts payable	0.9	0.8	1.1	1.4
Short-term debt	1.1	1.1	1.3	1.0
Deferred revenue	0.0	0.0	0.0	0.0
Total current liabilities	3.0	2.9	3.5	3.5
Long-term debt	13.1	14.5	15.2	17.8
Total liabilities	23.8	25.4	27.2	30.7
Shareholders' equity	7.6	8.1	8.7	9.7

Cash Flow Statement — Full

$B	FY22	FY23	FY24	FY25
Net income	0.8	0.9	1.0	1.1
D&A	1.1	1.2	1.2	1.3
Stock-based compensation	0.0	0.0	0.0	0.0
Working capital change	(1.1)	0.4	0.3	(0.1)
Operating cash flow	0.9	2.3	2.4	2.2
Capital expenditures	(2.4)	(3.2)	(3.0)	(3.8)
Investing cash flow	(2.5)	(3.4)	(3.0)	(4.0)
Buybacks	0.0	0.0	0.0	0.0
Dividends paid	(0.5)	(0.6)	(0.6)	(0.7)
Debt issuance / (repay)	1.8	1.5	1.0	2.4
Financing cash flow	1.3	1.1	0.6	2.2
Free cash flow	(1.5)	(0.9)	(0.6)	(1.6)

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Balance Sheet Structure ($B)

Cash Generation vs Capex ($B)

Left: what the balance sheet is made of — the gap between the assets bar and the liabilities bar is book equity. Right: whether the capex bar is covered by the operating-cash bar; where it is not, the difference was funded externally and free cash flow goes negative.

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
PROFITABILITY
ROE	22.3%	12.3%	12.2%	12.7%	12.3%	11%
ROA	4.6%	2.8%	2.7%	2.9%	2.8%	2.5%
ROIC	5.4%	5.2%	4.5%	5.1%	5.0%	3.4%
Gross margin	36.1%	32.1%	38.4%	42.7%	60.9%	69.7%
Operating margin	15.6%	14.2%	16.6%	19.8%	20.2%	18.9%
Net margin	18.5%	9.7%	11.9%	13.3%	12.5%	11.6%
EBITDA margin	33.3%	29.6%	37.2%	40.9%	37.3%	37.4%
FCF margin	-3.5%	-17.7%	-12.2%	-8.6%	-18.6%	—
VALUATION
P/E	12.30	20.02	18.10	19.26	19.63	20.3
P/B	2.51	2.39	2.13	2.35	2.30	2.1
P/S	2.27	1.95	2.15	2.57	2.46	2.44
P/FCF	-64.99	-11.03	-17.64	-29.82	-13.23	-11.3
EV/EBITDA	11.77	12.10	11.30	11.62	12.34	12.3
EV/Revenue	3.91	3.60	4.22	4.77	4.61	4.6
Earnings yield	8.1%	5.0%	5.5%	5.2%	5.1%	4.97%
FCF yield	-1.5%	-9.1%	-5.7%	-3.4%	-7.6%	-8.87%

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
LEVERAGE & SOLVENCY
Current ratio	1.19	1.15	0.98	0.79	0.98	0.92
Quick ratio	0.89	0.78	0.66	0.57	0.76	0.68
Debt / equity	1.89	2.04	2.08	2.02	2.07	1.97
Debt / assets	43.5%	45.7%	46.7%	46.2%	46.9%	47.0%
Net debt / EBITDA	4.94	5.55	5.54	5.35	5.75	5.79
Interest coverage	2.65	2.72	2.48	2.59	2.58	—

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Ratio	FY21	FY22	FY23	FY24	FY25	TTM
EFFICIENCY
Asset turnover	0.25	0.29	0.23	0.22	0.22	0.21
Receivables turnover	8.08	6.81	5.91	7.49	7.16	8.6
DSO (days)	45	54	62	49	51	42
DPO (days)	61	57	69	81	137	167
Cash conversion cycle	33	52	74	40	-0	-12
GROWTH (YoY)
Revenue growth	11.9%	17.3%	-13.2%	0.7%	13.6%	—
Net income growth	79.2%	-38.1%	6.0%	13.1%	6.8%	—
EPS growth	77.5%	-38.5%	4.9%	11.4%	6.1%	—
FCF growth	75.3%	-493.4%	40.1%	28.8%	-145.2%	—
PER SHARE ($)
EPS (diluted, TTM)	4.67	2.87	3.01	3.36	3.56	3.41
Book value / share	22.89	24.08	25.62	27.54	30.42	34.58
Revenue / share	25.30	29.51	25.35	25.15	28.41	29.32
FCF / share	-0.88	-5.21	-3.09	-2.17	-5.29	-6.35
Cash / share	1.56	0.56	0.77	0.34	2.05	0.80
SHAREHOLDER RETURN & SCORES
Buyback yield	0.0%	0.0%	0.0%	0.0%	0.0%	—
Altman Z-Score	0.94	0.92	0.83	0.86	0.87	0.9
Piotroski F-Score	6	5	5	6	7	5/9
Beneish M-Score	-2.43	-1.80	-3.22	-2.56	-14.93	-2.73

Model	Score	Zone	Note
Piotroski F-Score	5 / 9	Middling
Altman Z-Score	0.9	Distress (<1.81)	Distress
Income quality	2.42	Cash-backed	OCF ÷ net income
Beneish M-Score	-2.73	Non-manipulator	vs −2.22 threshold

DuPont Decomposition (TTM)	Value
Tax burden	0.91
Interest burden	0.58
Operating margin	22.0%
Asset turnover	0.22×
Financial leverage	4.34×
= ROE	11%

Growth Quality (live)	Value
Revenue stability	0.69
Earnings stability	0.00
Earnings persistence	1.00
Revenue CAGR 3y	2.7%
EPS CAGR 3y	10.4%
FCF CAGR 3y	—

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Buyback Yield0.00%

Dividend Yield3.28%

Total Shareholder Return-1.50%cash yield

SBC / Revenue0.0%dilution pressure

Company	Mkt cap	P/E	ROE	Net margin	Rev growth	Piotroski	1-yr ret
EIX	$21.5B	5.7	22%	12.3%	+10.7%	6/9	-1.4%
DTY	$22.7B	3.5	12%	8.8%	+25.4%	6/9	—
EVRG	$19.2B	20.7	9%	14.3%	+4.1%	5/9	+8.5%
ES	$25.2B	17.3	9%	1.8%	+7.8%	7/9	-5.3%
LNT	$17.7B	21.6	11%	17.5%	+6.8%	5/9	+1.8%
PPL	$26.5B	27.6	9%	10.9%	+6.7%	6/9	—
CNP	$26.7B	23.9	10%	11.3%	+7.1%	7/9	—
FE	$26.7B	24.6	8%	7.9%	+12.6%	4/9	—

1-yr returns computed from adjusted price history; peers without a tracked series show —.

Buy

30 Analysts

Str Sell (0)Sell (0)Hold (14)Buy (16)Str Buy (0)

Mean Target (qtr)$78.1010 targets

Target vs. Price+13.7%last-quarter mean

Next Report2026-10-27street $1.27

Consensus estimates	Revenue mean	High / Low	EPS mean	High / Low	# EPS est.
FY2026	$9.01B	$9.42B / $8.51B	$3.87	$3.89 / $3.84	9
FY2027	$9.37B	$9.76B / $8.84B	$4.16	$4.19 / $4.13	9
FY2028	$9.81B	$10.38B / $9.34B	$4.48	$4.52 / $4.45	4

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Street Price Target — Trajectory

Window	Avg Target	vs. Price	# Targets
Last Month	$74.80	+8.9%	5
Last Quarter	$78.10	+13.7%	10
Last Year	$78.97	+14.9%	33
All Time	$73.74	+7.3%	73

Rolling mean of published targets vs. last close $68.70. Aggregated from StreetInsider, Benzinga, Pulse 2.0.

Third-Party Composite Rating

C+

DCF

1/5

ROE

3/5

ROA

2/5

Debt/Eq

2/5

P/E

2/5

P/B

2/5

Independent quant composite as of 2026-10-16; components scored 1–5 (5 best). Shown for contrast with the InsiderStreet Score — methodologies differ.

CMS -7.4% vs S&P 500 +15.9% — spread -23.3pp

Sector — XLU -8.1%

Peer Set — indexed to 100

All series indexed to 100 at the start of the window, adjusted closes.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Candlesticks with SMA 20/50 overlay, Bollinger (20,2σ) band, volume, and Wilder RSI(14) — computed from live daily OHLCV.

Moving Average	Value	Distance	% Distance	Signal
SMA 20	$64.70	+4.00	+6.18%	Above
SMA 50	$67.05	+1.65	+2.46%	Above
SMA 200	$72.49	-3.79	-5.23%	Below
EMA 9	$66.38	+2.32	+3.50%	Above
EMA 21	$65.83	+2.87	+4.36%	Above
EMA 50	$67.18	+1.52	+2.26%	Above
EMA 200	$70.87	-2.17	-3.06%	Below

Series and readings from the nightly technical-indicator history — identical data to the site's ribbon chart. Supertrend segments colored by direction.

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

TECHNICAL VERDICTBULLISHPower Score +5718 of 22 indicator votes bullish

Family Scores (site weights)

Trend 30%80

Momentum 25%82

Volume 20%100

Volatility 10%67

Patterns 15%50

This Week82% bullishof 11 price-based votes

4 Weeks Ago0%+82 pts since

12 Weeks Ago27%+55 pts since

ReadImprovingweek-over-week trajectory

Price vs SMA 20$64.70

Price vs SMA 50$67.05

Price vs SMA 200$72.49

EMA 9/21 Cross66.4/65.8

SMA 50/200Death

ADX DirectionADX 28

Supertrend$64

Parabolic SAR$65

SMA Slope0.170

RSI70.4

Stochastic K/D92/94

StochRSI K/D100/100

Williams %R-4

CCI197

TSI vs Signal2.4

CMO40.9

ROC7.78%

OBV SignalAccum

Chaikin MF0.090

MFI83

Force Index2M

Elder Ray Bull3.16

RSI (14)30 oversold · 70 overbought

Stochastic %Kvs %D 94

Money Flowvolume-weighted RSI

ADXtrend strength · <20 weak

Williams %Rinverted scale

Level	Value	Level	Value
Pivot / R1 / R2	$67.23 / $67.64 / $68.34	S1 / S2	$66.53 / $66.12
Bollinger (20,2)	$61.50 – $67.90	Squeeze	Off
52-wk range	$62.29 – $80.36	Off 52-wk high	-14.5%
ATR (14)	$1.14 (1.7%)	Historical vol	15.6%

NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

+1.9%Jan55%

-0.1%Feb50%

+2.8%Mar81%

+1.8%Apr80%

-0.3%May50%

-0.4%Jun50%

+1.9%Jul70%

+0.8%Aug60%

-1.0%Sep55%

+1.5%Oct80%

+2.2%Nov60%

+1.7%Dec65%

Sample: 20 years — treat short histories as suggestive, not statistical.

Computed from live weekly prices	CMS	S&P 500
Weekly volatility (σ, 1y)	2.36%	1.83%
Best / worst week (1y)	+4.1% / -5.8%	—
Max drawdown (5y, monthly)	-27.8%	—
1-week VaR (95%)	-5.2%	—
Beta (5y)	0.33	1.00

CMS EQUITY WEATHER (LIVE)PARTLY CLOUDY · +24

Trend+21

Momentum+65

Volume+60

Volatility-60

Breadth-18

MARKET REGIME (2026-10-16)NEUTRAL

VIX19.99Normal

Dow TheoryConfirmed Bearish

SPY / QQQ TSI7.2 / 4.7trend strength

Sector Strength46/100breadth average

Average sentiment of 132 stories, weekly buckets, −1 to +1.

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Overall+23.6+33.1 vs industry

Trend+21.2+23.6 vs industry

Momentum+64.6+57.5 vs industry

Volume+59.8+59.8 vs industry

Reading	CMS	Regulated Electric n=445	Utilities n=1,247	All US symbols n=70,435
Overall	+23.6	-9.5	-13.6	-20.5
Trend	+21.2	-2.4	-17.2	-21.3
Momentum	+64.6	+7.1	-4.2	-15.8
Volume	+59.8	+0.0	+0.0	-3.8

Trend, momentum and volume are computed per company. Volatility and breadth are market-regime values shared by every symbol in the universe, so they are reported once under Market Regime rather than compared here - a company cannot differ from its sector on a constant.

Executive	Total comp	Structure
John G. Russell President and CEO, CMS and C	$6.8M	67% equity+incentive
Thomas J. Webb Executive Vice President and	$2.1M	66% equity+incentive
James E. Brunner Senior Vice President, CMS	$1.5M	69% equity+incentive
John M. Butler Senior Vice President, CMS &	$1.4M	64% equity+incentive
Daniel J. Malone Senior Vice President, Cons	$1.4M	66% equity+incentive

Pillar (live disclosure scores)	Score
Environmental	69
Social	79
Governance	81
Composite ESG	76

Composite ESG Trend

Methodology. Every figure originates in InsiderStreet's production data layer and is computed deterministically by the same engines that power insiderstreet.ai. This factsheet contains no model-written text. Sections without underlying data are omitted rather than estimated.

DISCLOSURES. This document is produced by InsiderStreet.ai from live production data. It is not investment advice, not an offer or solicitation to buy or sell any security, and not a recommendation tailored to any person. Data is sourced as of the dates shown and may no longer be current. InsiderStreet.ai is not a registered investment adviser or broker-dealer. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Do not make any investment decision based on this document. © 2026 InsiderStreet.ai — all rights reserved. Redistribution prohibited.

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NOT INVESTMENT ADVICE — FOR INFORMATIONAL PURPOSES ONLY

Data domain	Source	Coverage for this report
Price & volume	market_db.historical_prices	52 rows
Fundamentals	income_statements_annual	6 rows · 2020 to 2025
Reported vs consensus	fact/earnings_calendar	24 rows · 2020-08-03 to 2026-04-28
Analyst estimates	dim/forward_estimates	3 rows · 2026-12-31 to 2028-12-31
Institutional ownership (13F)	holdings_db.institutional_ownership_summary	113 rows · 1998 to 2026
Insider transactions (Form 4)	edgar/form4	12 rows · 2026-05-08 to 2026-07-31
Proposed sales (Form 144)	edgar/form144	not present for this symbol
Beneficial ownership (13D/G)	edgar/13dg	not present for this symbol
Short-sale volume (FINRA)	edgar/short_volume_daily	60 rows · 2026-07-23 to 2026-10-15
Dark pool (ATS, tier 1)	edgar/darkpool_weekly	12 rows · 2026-06-15 to 2026-08-31
ETF & fund holding	etf_holdings_changelog (30d)	1 record
Peer set	stock_peers_dynamic	8 rows
Industry medians	industry_medians	1 record
Congressional trades	congress_db (House + Senate)	1 record
ESG	fact/esg_disclosures	1 record

Method. Every figure in this factsheet is looked up from a named field computed in code. It contains no model-written text.

Not covered. Short interest as a percent of float and days-to-cover are not in this data set — the short-sale figures above are FINRA volume, a flow, and cannot support squeeze or covering analysis. Options positioning and intraday data are also absent. 13F ownership is filed 45 days after quarter end and congressional trades are disclosed on a lag, so both describe a past position, not a current one.

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

Score Breakdown

Peer Comparison — IS Score

IS Score Trend — quarterly

CMS Energy Corporation (CMS)

Institutions holding — 12 quarters

CMS Energy Corporation (CMS)

Monthly Net Insider Flow (000 shares)

Signal Summary

CMS Energy Corporation (CMS)

2.8 · Largest Reporting 13F Managers

2.9 · Top ETF & Fund Ownership

13F Filers Holding CMS — quarterly

Institutional Put/Call — quarterly

Where CMS Trades in the Dark

CMS Energy Corporation (CMS)

3.8 · Employees (SEC filings)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

Balance Sheet — Full

Cash Flow Statement — Full

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

Street Price Target — Trajectory

Third-Party Composite Rating

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

Family Scores (site weights)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)

CMS Energy Corporation (CMS)