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Wire

UBS Adjusts Price Target on CMS Energy to $84 From $83, Maintains Neutral Rating

CMS Energy (CMS) has an average rating of overweight and mean price target of $81.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $75.09, Change: $+0.72, Percent Change: +0.97%

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Research

KeyBanc Downgrades CMS Energy to Sector Weight From Overweight

CMS Energy (CMS) has an average rating of overweight and mean price target of $81.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Wire

CMS Energy Keeps Quarterly Dividend at $0.57 a Share, Payable Sept. 1 to Holders of Record Aug. 7

CMS Energy Keeps Quarterly Dividend at $0.57 a Share, Payable Sept. 1 to Holders of Record Aug. 7

$CMS
Wire

CMS Energy's Q2 Earnings Likely Weighed Down by Unfavorable Weather, UBS Securities Says

CMS Energy's (CMS) Q2 earnings are likely to be weighed down by storms and unfavorable weather, UBS Securities said in a note Wednesday.The investment firm said it sees a potential $50 million or $0.10 per share headwind from April storms, an impact of $0.18 a share from the absence of tender gains, and another $0.10 per share impact from unfavorable weather.UBS Securities forecasts Q2 earnings per share of $0.36, down from $0.71 a year ago and below the FactSet consensus estimate of $0.76.The company could still meet its 2026 EPS guidance, with the deferral of Q1 storm costs and electric rate recovery in Q3, the firm said. CMS Energy is set to release its Q2 results on July 28.UBS Securities has a neutral rating on CMS Energy, with price target of $83.Shares of the company were down about 1.1% in Thursday trading.Price: $75.39, Change: $-0.80, Percent Change: -1.05%

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Commodities

NWS Forecasts Dangerous Heat in Eastern US Through Holiday Weekend

Dangerous, record-breaking heat will continue across parts of central and eastern US through Friday before shifting its focus across the entire eastern US through the Independence Day holiday weekend, the US National Weather Service said.Temperatures could potentially reach a peak of nearly 115 degrees Fahrenheit.The region stretching from the northern/central Plains into the Midwest, Ohio Valley, and Mid-Atlantic is likely to experience severe thunderstorms in places on Friday.The NWS early Friday issued a red flag warning for Colorado's Montrose, Gunnison, Nucla, Buena Vista, Cortez, Durango, Lake City, Alamosa, Telluride, Leadville, Creede, Wolf Creek Pass, Saguache, South Fork, Salida, San Luis, Trinidad, Canon City, Colorado Springs, Pikes Peak, Fairplay and Woodland Park.Pueblo and Westcliffe were placed under an evacuation immediate watch.Xcel Energy (XEL) and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.The NWS issued an extreme heat warning for the entirety of Ohio and Kentucky. The Ohio-based subsidiaries of American Electric Power (AEP) and AES (AES), FirstEnergy (FE) units Ohio Edison, Toledo Edison, and The Illuminating Company, and Duke Energy (DUK) are among the major service providers in Ohio.Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, AEP unit Kentucky Power, and Duke Energy among others.An extreme heat warning was also raised for the entirety of New Jersey, Rhode Island, Delaware, Massachusetts, and Connecticut.Eversource Energy (ES), National Grid (NGG), Exelon (EXC) unit Delmarva Power, Public Service Enterprise Group (PSEG) unit Public Service Electric & Gas, FirstEnergy subsidiary Jersey Central Power & Light, Avangrid unit The United Illuminating Company, Unitil, PPL subsidiary Rhode Island Energy are among the major service providers in these states.Almost all of Maryland, except for Oakland and parts of Cumberland, were also placed under an extreme heat watch.The state is primarily served by Exelon units Baltimore Gas and Electric and Potomac Electric Power Company, First Energy subsidiary Potomac Edison and Delmarva Power.An extreme heat warning was also raised for almost all of Indiana, except for South Bend, Warsaw, Plymouth, Angola, and Gary; and for a majority of Illinois barring Princeton, Freeport, Rockford, Dixon, Ottawa, Joliet, Delkalb, Waukegan, Aurora, and Chicago. Also in Illinois, Aurora and Delkalb were placed under a flash flood warning, while a flood warning was raised for Canton, Havana, Jacksonville, areas near Carlinville, and Olney.Indiana is primarily served by Duke Energy, AEP subsidiary Indiana Michigan Power, NiSource (NI) unit Northern Indiana Public Service Company, AES unit AES Indiana, and CenterPoint Energy (CNP). Ameren's (AEE) Illinois unit and Exelon subsidiary ComEd are among the major service providers in Illinois,Also covered under an extreme heat warning watch were Missouri's Rockport, Grant City, Maryville, Bethany Trenton, Kirksville, St. Joseph, Plattsburg, Chillicothe, Carrollton, Moberly, Macon, Boonville, Sedalia, Centerville, Poplar Bluff, Sikeston, Cape Girardeau, Jefferson City, Clinton, Buttler, Harrisonville, Warrensburg, Kansas City, Columbia and St. Louis. Evergy (EVRG), Ameren's Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.In New York, a similar warning was used for Geneva, Ithaca, Elmira, Syracuse, Binghamton, Utica, Oneonta, Monticello, Poughkeepsie, Middletown, Newburgh, New York, Peekskill, Saratoga Spring, Glens Falls, Albany, Herkimer, and Plattsburgh. Consolidated Edison (ED) units Consolidated Edison Company of New York and Orange & Rockland, National Grid (NGG), Avangrid subsidiaries New York State Electric & Gas and Rochester Gas and Electric, and Fortis unit Central Hudson Gas & Electric are among the major suppliers in New York.Michigan's Detroit, Ann Harbour, Fort Huron, and Flint, primarily served by CMS Energy (CMS) unit Consumers Energy, and DTE Energy (DTE), were also covered under an extreme heat warning.Affected areas in Pennsylvania include Clarion, Butler, Pittsburgh, Indiana, Altoona, Gettysburg, Lancaster, York, Harrisburg, Williamsport, State College, Lock Haven, Scranton, Reading, Allentown. The state is primarily served by Exelon unit PECO Energy, PPL subsidiary PPL Electric Utilities, Duquesne Light Company and FirstEnergy through its various subsidiaries.In West Virginia, Moorefield, Kaiser, Martinsburg, Huntington, Charleston, Sutton, Parkersburg, Clarksburg, Fairmont, and Morgantown were placed under an extreme heat warning. These places primarily fall under the service area of American Electric Power's Appalachian Power Company and FirstEnergy subsidiaries Mon Power and Potomac Edison.A similar warning was raised for Virginia's Winchester, Leesburg, Luray, Washington, Warrenton, Fredericksburg, Culpeper, Dale City, Charlottesville, Emporia, Franklin, South Hill, Virginia Beach, Richmond, Farmville, Williamsburg, Ashland, Louisa, Tappahannock, and Accomac. Appalachian Power Company and Dominion Energy (D) are the major electric utility service providers in the state.Affected areas in Iowa included Lamoni, Ottumwa, Burlington and Keokuk. Decorah and Charles City were covered under a flood warning, while Des Moines was placed under watch for flash floods. Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT) are primary service providers in the state.Extreme heat warnings were also issued for parts of Kansas, Tennessee, North Carolina, Vermont, Maine and New Hampshire.The NWS also raised flash flood warnings for parts of Nebraska and South Dakota, while small pockets of Minnesota, Louisiana, Mississippi, and Georgia were placed under a flood warning.

$AEE$AEP$AES$AQN$BKH$CMS$CNP$D$DTE$DUK$ED$ES$EVRG$EXC$FE$LNT$NGG$NI$PPL$PSEG$XEL
Commodities

NWS Warns of Dangerous, Record Heat Build in Central, Eastern US Through This Week

The US National Weather Service early Thursday said it expects most of central and eastern US to continue experiencing dangerous, record-breaking heat this week, with the potential for temperatures over 100 degrees Fahrenheit.The Four Corners region is like to face critical fire weather conditions.Meanwhile, the region stretching from the northern Plains into the Midwest, the Great Lakes regions, and southern Appalachians are expected to experience severe storms, which will also carry the risk of large to very large hail.The NWS issued a red flag warning early Thursday for New Mexico's Raton, Clayton, Roy, and Las Vegas. TXNM Energy (TXNM) unit Public Service Co. of New Mexico and Xcel Energy (XEL) are among the primary electricity suppliers in New Mexico.A similar warning was raised for Utah's Bluff, Blanding, Moab, and Monticello, which primarily fall under the service area of PacifiCorp's Rocky Mountain Power.Affected areas in Colorado included Rifle, Vail, Grand Junction, Aspen, Montrose, Gunnison, Nucla, Buena Vista, Cortez, Durango, Lake City, Alamosa, Telluride, Leadville, Creede, Wolf Creek Pass, Saguache, South Fork, Salida, San Luis, Trinidad, La Veta Pass, Canon City, Colorado Springs, Westcliff, Pikes Peak, Woodland Park, Fairplay, and Pueblo. An immediate evacuation order was placed for Pueblo and Greeley, which was also covered by severe thunderstorm and flash flood warnings.Xcel Energy and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.The NWS issued an extreme heat warning for the entirety of Ohio, Indiana, Kentucky, and Illinois.The Ohio-based subsidiaries of American Electric Power (AEP) and AES (AES), FirstEnergy (FE) units Ohio Edison, Toledo Edison, and The Illuminating Company, and Duke Energy (DUK) are among the major service providers in Ohio. Indiana is primarily served by Duke Energy, AEP subsidiary Indiana Michigan Power, NiSource (NI) unit Northern Indiana Public Service Company, AES unit AES Indiana, and CenterPoint Energy (CNP).Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois, while Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, AEP unit Kentucky Power, and Duke Energy among others.An extreme heat warning was also raised for the entirety of New Jersey, Rhode Island, Delaware, Massachusetts, and Connecticut.Eversource Energy (ES), National Grid (NGG), Exelon unit Delmarva Power, Public Service Enterprise Group (PSEG) unit Public Service Electric & Gas, FirstEnergy subsidiary Jersey Central Power & Light, Avangrid unit The United Illuminating Company, Unitil, PPL subsidiary Rhode Island Energy are among the major service providers in these states.Almost all of Maryland, except for Oakland and parts of Cumberland, were also placed under an extreme heat warning watch. The state is primarily served by Exelon units Baltimore Gas and Electric and Potomac Electric Power Company, First Energy subsidiary Potomac Edison and Delmarva Power.Affected areas in Iowa included Des Moines, Osceola, Lamoni, Ottumwa, Iowa City, Davenport, Clinton, and Burlington. Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT) are the primary service providers in the state.Also covered under an extreme heat warning watch were Missouri's Rockport, Grant City, Maryville, Bethany Trenton, Kirksville, St. Joseph, Plattsburg, Chillicothe, Carrollton, Moberly, Macon, Boonville, Sedalia, Clinton, Buttler, Harrisonville, Warrensburg, Kansas City, Columbia, Jefferson City, Centerville, Poplar Bluff, Sikeston, Cape Girardeau, and St. Louis. Evergy (EVRG), Ameren's Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.The NWS issued also issued an extreme heat warning for Michigan's Ludington, Holland, Pentwater, Kalamazoo, Big Rapids, Clare, Mount Pleasant, Muskegon, Alma, Ionia, Grand Rapids, Flint, Hastings, South Haven, Lansing, Jackson, Benton Harbour, Cold Water, Ann Harbour, Bad Axe, Saginaw, Detroit, and Port Huron. CMS Energy (CMS) unit Consumers Energy, and DTE Energy (DTE) are among the major service providers in these places.Wisconsin's Wisconsin Dells, Sheboygan, Beaver Dam, Madison, Janesville, Mineral Point, Kenosha, and Milwaukee were also placed under a similar warning. A flash flood warning was raised for Stevens Point. WEC Energy Group's (WEC) Wisconsin Public Service, Xcel Energy, and Alliant Energy are among the major service providers in the state.In New York, a similar warning was used for Geneva, Ithaca, Elmira, Syracuse, Binghamton, Utica, Monticello, Poughkeepsie, Middletown, Newburgh, New York, Peekskill, Niagara Falls, Rochester, Dansville, Fulton, Oneonta, Saratoga Spring, Glens Falls, Albany, Poughkeepsie, Herkimer, and Plattsburgh. Consolidated Edison (ED) units Consolidated Edison Company of New York and Orange & Rockland, National Grid, Avangrid subsidiaries New York State Electric & Gas and Rochester Gas and Electric, and Fortis unit Central Hudson Gas & Electric are among the major suppliers in New York.The NWS also issued extreme heat warnings for a majority of Pennsylvania and New Hampshire, large parts of Virginia, West Virginia, Arkansas, and Tennessee, and parts of Vermont, Maine, Kansas, Alabama, Georgia, and Mississippi.Flood warnings were also raised for parts of Illinois, Kentucky, and small pockets of Louisiana, Mississippi, and Arkansas. A flash flood warning was issued for Scott City in Kansas.

$AEE$AEP$AES$AQN$BKH$CMS$CNP$DTE$DUK$ED$EVRG$EXC$FE$LNT$NGG$NI$PPL$PSEG$TXNM$WEC$XEL
Commodities

NWS Says Dangerous Heat to Intensify in Central, Eastern US

The US National Weather Service early Wednesday said a majority of central and eastern US is expected to experience the intensification of dangerous, record-breaking heat this week, with heat value indices likely to exceed 100 degrees Fahrenheit.Meanwhile, portions of the Four Corners and Great Basin are expected to experience continued critical fire weather conditions.Parts of the region stretching from the central High Plains into the Upper Midwest, and across parts of the Northeast are likely to encounter severe thunderstorms.The NWS early Wednesday issued a red flag warning for Utah's Bluff, Blanding, Moab, and Monticello, which primarily fall under the service area of PacifiCorp's Rocky Mountain Power.A similar warning was raised for Colorado's Rifle, Vail, Grand Junction, Aspen, Montrose, Gunnison, Nucla, Buena Vista, Cortez, Durango, Lake City, Alamosa, Telluride, Leadville, Creede, Wolf Creek Pass, Saguache, South Fork, Salida, San Luis, Trinidad, Kim, La Junta, Pikes Peak, Canon City, Colorado Springs, Fairplay, Castle Rock, and Georgetown. An immediate evacuation notice was issued for certain pockets between West Cliff and Pueblo. Xcel Energy and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.The NWS issued extreme heat warning for the entirety of Ohio, Indiana, Kentucky, and Illinois.The Ohio-based subsidiaries of American Electric Power (AEP) and AES (AES), FirstEnergy (FE) units Ohio Edison, Toledo Edison, and The Illuminating Company, and Duke Energy (DUK) are among the major service providers in Ohio. Indiana is primarily served by Duke Energy, AEP subsidiary Indiana Michigan Power, NiSource (NI) unit Northern Indiana Public Service Company, AES unit AES Indiana, and CenterPoint Energy (CNP).Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois, while Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, AEP unit Kentucky Power, and Duke Energy among others.Affected areas in Iowa included Fort Dodge, Waterloo, Ames, Marshalltown, Des Moines, Cedar Rapids, Osceola, Lamoni, Ottumwa, Iowa City, Dubuque, Davenport, Clinton, and Burlington. Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT) are primary service providers in the state.Also covered under an extreme heat warning watch were Missouri's Rockport, Grant City, Maryville, Bethany Trenton, Kirksville, St. Joseph, Plattsburg, Chillicothe, Carrollton, Moberly, Macon, Boonville, Sedalia, Clinton, Buttler, Harrisonville, Warrensburg, Kansas City, Columbia, Jefferson City, Centerville, Poplar Bluff, Sikeston, Cape Girardeau, and St. Louis. Evergy (EVRG), Ameren's Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.The NWS issued also issued an extreme heat warning for Michigan's Ludington, Holland, Pentwater, Kalamazoo, Big Rapids, Clare, Mount Pleasant, Muskegon, Alma, Ionia, Grand Rapids, Flint, Hastings, South Haven, Lansing, Jackson, Benton Harbour, Cold Water, Ann Harbour, Bad Axe, Saginaw, Detroit, and Port Huron. CMS Energy (CMS) unit Consumers Energy, and DTE Energy (DTE) are among the major service providers in these places.Wisconsin's Wisconsin Dells, Sheboygan, Beaver Dam, Madison, Janesville, Mineral Point, Kenosha, and Milwaukee were also placed under a similar warning. WEC Energy Group's (WEC) Wisconsin Public Service, Xcel Energy, and Alliant Energy are among the major service providers in the state.In the Northeast, the NWS issued an extreme heat warning for the entirety of New Jersey, Rhode Island, Delaware, Massachusetts, and Connecticut.Eversource Energy (ES), National Grid (NGG), Exelon unit Delmarva Power, Public Service Enterprise Group (PSEG) unit Public Service Electric & Gas, FirstEnergy (FE) subsidiary Jersey Central Power & Light, Avangrid unit The United Illuminating Company, Unitil, PPL subsidiary Rhode Island Energy are among the major service providers in these states.Warnings for extreme heat were also issued for large portions of Pennsylvania, New York, West Virginia, New Hampshire, and parts of Maryland, Vermont, Tennessee, Mississippi, Alabama, Maine, Kansas, and small pockets of Arkansas.The NWS also issued severe thunderstorm warnings for parts of South Dakota and Iowa, while flood warnings were raised for certain areas in Illinois, Louisiana, Kentucky, Mississippi, and Arkansas.

$AEE$AEP$AES$AQN$BKH$CMS$CNP$DTE$DUK$ES$EVRG$EXC$FE$LNT$NGG$NI$PPL$PSEG$WEC$XEL
Commodities

NWS Warns of Record Breaking Heat in Central, Eastern US; Temperatures Over 100 Degrees Fahrenheit

The US National Weather Service early Tuesday forecast intensification of dangerous, record-breaking heat across a majority of central and eastern US this week, with heat expected to persist through the Independence Day holiday weekend in the eastern US.The heat value indices are expected to exceed 100 degrees Fahrenheit, the agency said.Meanwhile, portions of the Four Corners and Great Basin are expected to experience critical fire weather conditions on Tuesday due to the presence of dry conditions and gusty winds.The NWS early Tuesday issued a red flag warning for Utah's Bluff, Blanding, Moab, Monticello, Vernal, Green River, Price, Capitol Reef National Park, and areas near Escalante. These places primarily fall under the service area of PacifiCorp's Rocky Mountain Power.A similar warning was raised for Colorado's Craig, Rangely, Meeker, Rifle, Vail, Steamboat Springs, Grand Junction, Aspen, Montrose, Gunnison, Nucla, Buena Vista, Cortez, Durango, Lake City, Alamosa, Telluride, Kremmling, Leadville, Creede, Wolf Creek Pass, Saguache, South Fork, Salida, San Luis, Trinidad, Kim, La Junta, Pikes Peak, Canon City, Colorado Springs, Saguache, Granby, Georgetown, Ordway, Fairplay, and parts of Boulder, Fort Collins, and Castle Rock. An immediate evacuation notice was issued for West Cliff and Pueblo.Xcel Energy (XEL) and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.Also covered under a red flag warning watch were Arizona's Winslow, Show Low, St. Johns, parts of Chinle, and areas near Flagstaff and Grand Canyon Village, primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company.Affected areas in Nebraska include Harrison, Chadron, Scottsbluff, Bridgeport, Alliance, Harrisburg, Kimball, and Sidney. A major part of the state is covered under the service area of regional transmission organization Southwest Power Pool, with Midcontinent ISO also serving some areas.A red flag warning was also issued for Wyoming's Glenrock, Bill, Lusk, Lance Creek, Glendo, Douglas, Torrington, Wheatland, Chugwater, Cheyenne, and Newcastle, which primarily fall under the service area of Rocky Mountain Power.The NWS issued extreme heat warning for the entirety of Ohio, Indiana, Kentucky, and Illinois.The Ohio-based subsidiaries of American Electric Power (AEP) and AES (AES), FirstEnergy (FE) units Ohio Edison, Toledo Edison, and The Illuminating Company, and Duke Energy (DUK) are among the major service providers in Ohio. Indiana is primarily served by Duke Energy, AEP subsidiary Indiana Michigan Power, NiSource (NI) unit Northern Indiana Public Service Company, AES unit AES Indiana, and CenterPoint Energy (CNP).Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois, while Kentucky is primarily served by PPL (PPL) subsidiary Louisville Gas and Electric & Kentucky Utilities, AEP unit Kentucky Power, and Duke Energy among others.Most of Iowa, except for Storm Lake, Sioux City, and parts of Estherville, primarily served by Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy (LNT), were also covered under an extreme heat warning watch.A large part of Wisconsin, except for Rice Lake, Eau Claire, Rhinelander, Park Falls, and Hayward, were also placed under a similar warning. WEC Energy Group's (WEC) Wisconsin Public Service, Xcel Energy, and Alliant Energy are among the major service providers in Wisconsin.Affected areas in Missouri include Rockport, Grant City, Maryville, Bethany Trenton, Kirksville, St. Joseph, Plattsburg, Chillicothe, Carrollton, Moberly, Macon, Boonville, Sedalia, Clinton, Buttler, Harrisonville, Warrensburg, Kansas City, Columbia, Jefferson City, Centerville, Poplar Bluff, Sikeston, Cape Girardeau, and St. Louis. Evergy (EVRG), Ameren's Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.In Kansas, where Evergy is among the major service providers, an extreme heat warning was issued for Topeka, Ottawa, Paola, Iola, Olathe, Leavenworth, Atchison, Concordia, Manhattan, and Emporia.An extreme heat warning was also raised for Michigan's Ludington, Holland, Pentwater, Kalamazoo, Big Rapids, Clare, Mount Pleasant, Muskegon, Alma, Ionia, Grand Rapids, Flint, Hastings, South Haven, Lansing, Jackson, Benton Harbour, Cold Water, Ann Harbour, Bad Axe, Saginaw, Detroit, and Port Huron. CMS Energy (CMS) unit Consumers Energy, and DTE Energy (DTE) are among the major service providers in these places.An extreme heat warning was also raised for a majority of New Jersey, Connecticut, Massachussets and Tennessee, large parts of West Virginia and Pennsylvania, and portions of New York.Meanwhile, flood warning were issued for parts of Montana, Illinois, Kansas, Louisiana, Oklahoma, Arkansas, and Mississippi.

$AEE$AEP$AES$AQN$BKH$CMS$CNP$DTE$DUK$EVRG$EXC$FE$LNT$NI$PNW$PPL$WEC$XEL
Commodities

NWS Forecasts Dangerous, Record Heat Build in Central, Eastern US

The US National Weather Service forecast the expansion of dangerous, record-breaking heat from across central US towards the east this week.The Southwest and portions of the Great Basin are expected to experience wildfire risks through Monday.Meanwhile, the northern Plains and upper Midwest are likely to encounter severe thunderstorms, along with risks of large to very large hail and severe winds.The NWS early Monday issued a red flag warning for New Mexico's Raton, Clayton, Roy, and Las Vegas. TXNM Energy (TXNM) unit Public Service Co. of New Mexico and Xcel Energy (XEL) are among the primary electricity suppliers in New Mexico.A similar warning was raised for Colorado's Craig, Rangely, Meeker, Rifle, Grand Junction, Aspen, Montrose, Gunnison, Nucla, Cortez, Durango, Lake City, Alamosa, Pagosa Springs, Telluride, Vail, Kremmling, Leadville, Buena Vista, Creede, Wolf Creek Pass, Saguache, South Fork, Salida, Woodland Park, Pikes Peak, Canon City, West Cliff, Pueblo, La Veta Pass, South Fork, Colorado Springs, San Luis, Trinidad, Granby, Georgetown, Fairplay, Boulder and Castle Rock.Xcel Energy and Black Hills (BKH) unit Black Hills Energy are the primary electricity service providers in Colorado.Affected areas in Arizona included Flagstaff, Winslow, Show Low, St. Johns, and parts of Chinle, primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company.Also placed under a red flag warning were Bluff, Blanding, Moab, Monticello, and parts of Vernal in Utah, which primarily falls under the service area of PacifiCorp's Rocky Mountain Power.The NWS issued an extreme heat warning for most of Iowa, excluding parts of Estherville. MidAmerican Energy Company, a unit of Berkshire Hathaway Energy, and Alliant Energy (LNT) are the major power suppliers in the state.A majority of Wisconsin, except for Park Falls, Rhinelander, and parts of Hayward, were also placed under an extreme heat warning watch. WEC Energy Group's (WEC) Wisconsin Public Service, Xcel Energy, and Alliant Energy are among the major service providers in Wisconsin.A similar warning was issued for Minnesota's Hinckley, Brainerd, St. Cloud, Willmar, Minneapolis, Red Wing, Mankato, Rochester, and Albert Lea. Otter Tail (OTTR) unit Otter Tail Power, Allette (ALE) subsidiary Minnesota Power, Xcel Energy, and Alliant Energy and among the service providers in the state. .An extreme heat warning was also raised for Michigan's Ludington, Pentwater, Kalamazoo, Big Rapids, Clare, Mount Pleasant, Muskegon, Alma, Ionia, Grand Rapids, Holland, Hastings, South Haven, Lansing, Jackson, Benton Harbour, and Cold Water. CMS Energy (CMS) unit Consumers Energy, and DTE Energy (DTE) are among the major service providers in these places.Affected areas in Missouri include Rockport, Grant City, Maryville, Bethany Trenton, Kirksville, St. Joseph, Plattsburg, Chillicothe, Carrollton, Moberly, Macon, Boonville, Sedalia, Clinton, Buttler, Harrisonville, Warrensburg, Kansas City, Poplar Bluff, Sikeston, Cape Girardeau, St. Louis, and Washington. Evergy, Ameren's (AEE) Missouri unit, and Algonquin Power & Utilities (AQN) subsidiary Liberty are the major service providers in Missouri.In Illinois, an extreme heat warning was raised for Mount Vernon, Carbondale, Carmi, Freeport, Galesburg, Macomb, and Princeton. Princeton was also covered under a flood warning watch along with Peoria, Canton, Pekin, Havana, Jacksonville, and Olney. Ameren's Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.In Kansas, an extreme heat warning was issued for Topeka, Ottawa, Paola, Leavenworth, Atchison, Concordia, Manhatta, Lawrence, and Emporia, while a flood warning was raised for Kingman, Arkansas City, and Coffeyville. Evergy (EVRG) is among the major service providers in the state.Also covered under an extreme warning watch were parts of Kentucky, Ohio, Tennessee, Indiana, and Nebraska.The NWS also issued flood warnings for certain pockets of Kentucky, Arkansas, Mississippi, Louisiana, and Oklahoma.The NWS issued a freeze warning for Nevada's Monticello, Elko, Wells, Eureka, Austin, and Ely, primarily served by Berkshire Hathaway Energy subsidiary NV Energy.A winter storm warning was raised for Idaho's Shoup, Salmon, Leadore, and Challis, where Idacorp's (IDA) Idaho Power is the major service provider; and Montana's Sula, Hamilton, Drummond, Anaconda, Butte, and areas near Dillon and Missoula, primarily served by Northwestern Energy (NWE).

$AEE$ALE$AQN$BKH$CMS$DTE$EVRG$EXC$IDA$LNT$NWE$OTTR$PNW$TXNM$WEC$XEL
Research

Jefferies Downgrades CMS Energy to Hold From Buy, Adjusts Price Target to $74 From $88

CMS Energy (CMS) has an average rating of overweight and mean price target of $80.85, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks advanced late Wednesday afternoon with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was little changed, and the Dow Jones US Utilities Index shed 0.3%.Crude oil futures rose as Iran struck Gulf nations Kuwait and Bahrain with missiles amid faltering diplomacy with Washington, the Wall Street Journal reported. Kuwait came under a barrage of ballistic missiles and drones on Wednesday that shut its international airport, killed one person, and injured dozens more, the report said.West Texas Intermediate crude oil climbed 2.2% to $95.80 a barrel, and global benchmark Brent rose 1.8% to $97.74 a barrel. Henry Hub natural gas futures increased 2.2% to $3.24 per 1 million BTU.In corporate news, Xcel Energy's (XEL) Colorado utility unit reached a non-unanimous settlement agreement in its electric rate case before the Colorado Public Utilities Commission, and the company reaffirmed its 2026 EPS guidance of $4.04 to $4.16. The stock declined 1%.JinkoSolar (JKS) will enter the data-center business, supplying power directly from its plants to meet growing AI-driven demand, Nikkei Asia reported. JinkoSolar shares fell 0.9%.CMS Energy (CMS) said Wednesday that it has appointed Sri Maddipati as executive vice president and chief financial officer of the company and its primary business Consumers Energy. CMS Energy shares were down 2.1%.Obsidian Energy (OBE) agreed to acquire Belly River light oil assets in the Wilson Creek area of Willesden Green from Highwood Asset Management for an unadjusted purchase price of 105 million Canadian dollars ($75.8 million). Obsidian shares fell 1.1%.

$CMS$JKS$OBE$XEL
Wire

CMS Energy Appoints Sri Maddipati as CFO

CMS Energy (CMS) said Wednesday that it has appointed Sri Maddipati as executive vice president and chief financial officer of the company and its primary business Consumers Energy, effective today.Maddipati is currently Consumers Energy's senior vice president and president of electric supply, according to a statement.Rejji Hayes is retiring as executive vice president and chief financial officer, CMS Energy said.Additionally, Chris Fultz, vice president of low voltage distribution at Consumers Energy, will become the new senior vice president and president of electric supply, CMS Energy added.Price: $71.42, Change: $-0.43, Percent Change: -0.61%

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Commodities

US Energy Secretary Renews Order to Keep Michigan Coal Power Plant Running

The US Department of Energy said on Monday that Energy Secretary Chris Wright has renewed a previously-issued emergency order to prevent a coal-fired power plant in Michigan from ceasing operations.The JH Campbell plant in West Olive, Michigan, owned by CMS Energy (CMS) unit Consumers Energy, was slated to shutdown on May 31 last year, according to a statement from the Department.The plant was originally instructed on May 23, one week before that, to keep operating via an emergency order from Wright, with subsequent extensions issued throughout 2025 and early 2026.The new emergency order will keep the plant operating through Aug. 16. The order directs the Midcontinent Independent System Operator, in coordination with Consumers Energy, to ensure that the plant remains available to operateThe order has been issued to "address critical grid reliability issues in the Midwest heading into the summer months," the statement said.In 2025, more than 17 GW of coal-powered electricity generation was prevented from shutting down by the Trump administration, it added.Separately, the DOE on Monday approved the deployment of backup generation resources to help limit blackouts in the Mid-Atlantic region resulting from a heatwave and an increase in elevated transmission and generation outages linked to seasonal maintenance.The emergency order, which follows a request from PJM Interconnection on May 17, allows the regional transmission organization to deploy backup generation resources at data centers and other major facilities.The order also authorizes PJM to tap into its transmission owners and electric distribution companies to implement the order as needed, the department said in a separate statement.The order is effective from Monday through Wednesday.Over 35-gigawatts of unused backup generation remains available nationwide, according to the statement.

$CMS
Commodities

NWS Forecasts Critical Fire Weather Conditions in Northern Great Plains

The US National Weather Service said most of the areas falling under the northern Great Plains are expected to experience elevated to critical fire weather conditions, including gusty winds and low relative humidity on Tuesday.Meanwhile, parts of central Plains stretching northeastward into the Midwest could potentially experience isolated severe thunderstorms with strong wind gusts and hail during the day, while the eastern Florida peninsula may encounter additional storms capable of damaging winds.The NWS early Tuesday issued a red flag warning for Colorado's Craig, Rangely, Meeker, Montrose and Nucla. The primary service providers in the state are Xcel Energy (XEL) and Black Hills' (BKH) Black Hills Energy.A similar warning was raised for Nebraska's Holdrege, Kearney, Lexington, Grand Island, Broken Bow, Ord, Burwell, and Norfolk. A large part of Nebraska is covered by the regional transmission organization Southwest Power Pool, with Midcontinent ISO also serving some areas.In Kansas, where Evergy (EVRG) is among the major electricity service providers, a warning for fire weather conditions was raised for Phillipsburg and Hill City.Areas placed under a red flag warning in South Dakota included Yankton, Vermillion, Lake Andes, Michelle, Chamberlain, Sioux Falls, Brookings, Huron, Mobridge, Aberdeen, Sisseton, Redfield, Miller, Pierre, and Murdo. Xcel Energy, Northwestern Energy (NWE), Black Hills Energy, MDU Resources (MDU) unit Montana-Dakota Utilities and Otter Tail's (OTTR) Otter Tail Power are among the major electric service providers in the state.A red flag warning was also issued for North Dakota's Bottineau, Minot, Rugby, Ashley, Bismarck, Jamestown, Harvey, Devil's Lake, Fargo, and Lisbon. The state is primarily served by Xcel Energy, Montana-Dakota Utilities, and Otter Tail Power.In Minnesota, a similar warning was raised for Marshall, Pipestone, Windom, Worthington, Morris, Willmar, and Mankato. The main service providers in the state are Otter Tail Power, Allette (ALE) subsidiary Minnesota Power, Xcel Energy and Alliant Energy (LNT).Also covered under a red flag warning watch were Iowa's Spencer, Storm Lake, and Sioux City, primarily served by Berkshire Hathaway Energy unit MidAmerican Energy and Alliant Energy.Meanwhile, an extreme heat warning was issued for Gila Bend in Arizona.The NWS issued a freeze warning for Michigan's Petoskey, Manistee, Tawas City, Rogers City, Gaylord, Alpena, Mio, Houghton Lake, Cadillac, Ludington, Pentwater, Big Rapids, Mount Pleasant, Saginaw, Bad Axe, and Port Huron. These places are primarily served by CMS Energy (CMS) unit Consumers Energy and DTE Energy (DTE).In New York, a freeze warning was issued for Jamestown, Wellsville, Elmira, Ithaca, Buffalo, Niagara Falls, Dunsville, Fulton, Watertown, Utica, Binghamton, Monticello, Oneonta, Hunter, Herkimer, Ogdensberg, Massena, Malone, and Old Forge. National Grid (NGG), Avangrid (AGR) unit New York State Electric & Gas, and Fortis subsidiary Central Hudson Gas & Electric are the major service providers in these areas.Also covered under a freeze warning watching were Pennsylvania's Erie, Meadville, Bradford, Dubois, Johnstown, Altoona, Lockhaven, Williamsport, Butler, Clarion, and Indiana. The state is primarily served by Exelon (EXC) unit PECO Energy, PPL (PPL) subsidiary PPL Electric Utilities, Duquesne Light Company and FirstEnergy (FE) through its various subsidiaries.A freeze warning was also issued for Ashtabula and Youngstown in Ohio; Bennington, Rutland, Springfield, Burlington, and Montpelier in Vermont; Lebanon in New Hampshire; Oakland and Cumberland in Maryland; Monterey in Virginia; and Elins and Snowshoe in West Virginia.The NWS also issued flood warnings for small pockets of Texas, Missouri, Louisiana, Mississippi, and Washington.

$AGR$ALE$BKH$CMS$DTE$EVRG$EXC$FE$LNT$MDU$NGG$NWE$OTTR$PPL$XEL
Commodities

NWS Warns of Rainfall, Thunderstorms in Southern Plains, Gulf Coast; Elevated Temperatures to Hit West

The US National Weather Service on Friday said the Southern Plains and Gulf Coast states may encounter heavy rainfall and severe thunderstorms through the weekend, while parts of the West may experience above average temperatures that will peak early next week.The NWS issued a red flag warning for Montana's Plentywood, Glasgow, Circle, Sidney, Glendive, and Terry, primarily served by MDU Resources' (MDU) Montana-Dakota Utilities.The weather service posted a freeze warning for Michigan's Rogers City, Petoskey, Alpena, Gaylord, Mio, Houghton Lake, Cadillac, and Tawas City, within the service zone of CMS Energy's (CMS) Consumers Energy.In West Virginia, the agency placed Elkins and Snowshoe under the same warning. FirstEnergy (FE) subsidiary Mon Power is the main service provider in these cities.The NWS issued a flood warning for areas near Washington's Winthrop, served by Puget Sound Energy, and Mississippi's Hattiesburg, within the service zone of Southern Co. (SO) subsidiary Mississippi Power.In Illinois, the weather service issued a similar warning for places near Canton, Havana, Olney, and Salem, primarily served by Ameren's (AEE) Illinois unit.In Indiana, the agency issued the same warning for areas nearby Terre Haute, Vincennes, Petersburg, and Seymour, mainly served by Duke Energy (DUK).

$AEE$CMS$DUK$FE$MDU$SO
Commodities

NWS Warns of Thunderstorms in Texas, Mississippi, Tennessee Valleys

The US National Weather Service on Thursday said eastern Texas into the lower Mississippi and Tennessee Valleys may encounter strong to severe thunderstorms that may produce tornadoes, wind gusts, large hail, and rainfall.The NWS issued a severe thunderstorm warning for Mississippi's Hattiesburg and a flash flood warning for Georgia's Columbus. Southern Co. (SO) subsidiaries Mississippi Power and Georgia Power, respectively, serve these cities.In Florida, the agency posted a red flag warning for Jacksonville, Gainesville, Ocala, Daytona Beach, Wildwood, Deltona, Sanford, Leesburg, Orlando, Titusville, Melbourne, and Palm Bay. Duke Energy (DUK) and NextEra Energy (NEE) unit Florida Power & Light are the main service providers in these cities.The weather service placed some parts of New Mexico under a freeze warning. These cities, primarily served by Xcel Energy (XEL) and TXNM Energy's (TXNM) PNM, include Farmington, Gallup, Raton, Clayton, Roy, Las Vegas, Los Alamos, Santa Fe, Albuquerque, and Moriarty.In Texas, areas under the same warning include Dalhart and Perryton, within the service zone of Xcel Energy. The warning extends to nearby Oklahoma cities, Beaver, Guymon, and Boise City.The NWS also posted a freeze warning for areas in Colorado, including Craig, Meeker, Rangely, Rifle, Kremmling, Vail, Montrose, Nucla, Cortez, Durango, Pagosa Springs, Fort Collins, Greeley, Boulder, Fort Morgan, Akron, Wray, Flagler, Cheyenne Wells, Sterling, Julesburg, Denver, Deer Trail, Castle Rock, Limon, Colorado Springs, Canon City, Pueblo, Ordway, Eads, La Junta, Lamar, La Veta Pass, Trinidad, Kim, and Springfield. The state's main electricity providers are Xcel Energy and Black Hills' (BKH) energy unit.Utah's Duchesne, Manti, and Nephi, where PacifiCorp's Rocky Mountain Power is the primary utility provider, were also under the same warning.In Kansas, the weather service issued a similar warning for St. Francis, Goodland, Colby, Oakley, Tribune, Scott City, Garden City, Ulysses, and Liberal. Evergy (EVRG) mainly serves the state.In Nebraska, the agency posted the same warning for Oshkosh, Arthur, Tryon, Stapleton, North Platte, Ogallala, Chappell, Grant, Imperial, Stockville, and McCook.The NWS placed some parts of Michigan under a similar warning, including Rogers City, Petoskey, Gaylord, Alpena, Mio, Traverse City, Houghton Lake, Cadillac, Manistee, Tawas City, Ludington, Pentwater, Big Rapids, Clare, and Mount Pleasant. Consumers Energy, a subsidiary of CMS Energy (CMS), mainly serves these cities.The agency posted a flood warning for Michigan's Petoskey, Mississippi's Hattiesburg, and areas near Washington's Winthrop, served by Puget Sound Energy.Wisconsin's Janesville, within the service zone of Alliant Energy (LNT), and Arkansas' Searcy, within the service area of Entergy's (ETR) Arkansas unit, were under the same warning.In Illinois, the weather service issued a similar warning for places near Canton, Havana, Carlinville, Olney, and Carmi, primarily served by Ameren's (AEE) Illinois unit.In Indiana, the NWS issued the same warning for areas nearby Crawfordsville, Terre Haute, Vincennes, Petersburg, and Seymour, where Duke Energy is the main electricity provider.

$AEE$BKH$CMS$DUK$ETR$EVRG$LNT$NEE$SO$TXNM$XEL
Commodities

NWS Warns of Thunderstorms in Texas, Southern Appalachians; Snowstorm to Impact Central Rockies

The US National Weather Service on Wednesday said areas across Texas to the southern Appalachians may experience severe thunderstorms, while the central Rockies may encounter a snowstorm.Thunderstorms could bring winds of hazardous speeds, hail, tornadoes and flooding to the affected areas. A snowstorm, meanwhile, could down trees, disrupt travel and result in power outages.The NWS issued a severe thunderstorm warning for Arkansas' Hot Springs and Arkadelphia. The state's main electricity providers are Entergy's (ETR) Arkansas unit and American Electric Power's (AEP) Southwestern Electric Power.The agency posted a winter storm warning for parts of Colorado, including Fort Collins, Steamboat Springs, Granby, Boulder, Georgetown, Vail, Denver, Castle Rock, Fairplay, Woodland Park, Pikes Peak, Colorado Springs, Westcliffe, La Veta Pass, and San Luis. The primary service providers in the state are Xcel Energy (XEL) and Black Hills' (BKH) Black Hills Energy.In Wyoming, where PacifiCorp's Rocky Mountain Power and Black Hills Energy are the main electric providers, cities under the same warning include Medicine Bow, Elk Mountain, Bosler, Laramie, Pine Bluffs, Cheyenne, Centennial, and Saratoga.The weather service also placed some parts of the state under a freeze warning. These cities include Cody, Greybull, Worland, Buffalo, Thermopolis, Riverton, Lander, and Casper.In Idaho, the agency posted a similar warning for Rexburg, Rigby, Arco, Idaho Falls, Blackfoot, and Pocatello, primarily served by Rocky Mountain Power and Idacorp (IDA) subsidiary Idaho Power.Colorado cities under the same warning are Craig, Meeker, Rangely, Rifle, Grand Junction, Montrose, Cortez, Durango, Pagosa Springs, Julesburg, Sterling, Greeley, Fort Morgan, Akron, Deer Trail, Limon, Colorado Springs, Canon City, Pueblo, Ordway, Eads, Lamar, La Junta, Springfield, Kim, Trinidad, and La Veta Pass.The NWS also issued a freeze warning for Utah's Logan and Duchesne, within the service zone of Rocky Mountain Power.Texas' Dalhart, mainly served by Xcel Energy, and Oklahoma's Boise City, were under the same warning.In Kansas, the agency posted a similar warning for St. Francis, Goodland, Tribune, and Ulysses. Evergy (EVRG) primarily serves the state.The weather service issued the same warning for Nebraska's Oshkosh, Arthur, Tryon, Stapleton, North Platte, Ogallala, Grant, Imperial, Stockville, and Chappell.In South Dakota, the NWS posted a freeze warning for Huron, Chamberlain, Mitchell, Brookings, and Sioux Falls, primarily served by Otter Tail's (OTTR) power unit, Xcel Energy, and NorthWestern Energy (NWE).Minnesota cities under the same warning include Fergus Falls, Brainerd, Hinckley, St. Cloud, Morris, Willmar, Marshall, and Worthington. Otter Tail Power, Allette (ALE) subsidiary Minnesota Power, Xcel Energy, and Alliant Energy (LNT) are the main electricity providers in the state.In Wisconsin, the agency posted a similar warning for Rice Lake, Eau Claire, Neillsville, Whitehall, La Crosse, Wisconsin Dells, and Marshfield. The state's primary service providers are Xcel Energy, Alliant Energy, MGE Energy's (MGEE) Madison Gas and Electric, and WEC Energy (WEC) subsidiaries, Wisconsin Public Service and We Energies.In Michigan, the weather service issued the same warning for Rogers City, Petoskey, Gaylord, Alpena, Mio, Traverse City, Houghton Lake, Cadillac, Big Rapids, Clare, and Tawas City, within the service zone of CMS Energy (CMS) subsidiary Consumers Energy.The NWS posted a flood warning for Arkansas's Searcy, Tennessee's Memphis, and areas near Washington's Winthrop, served by Puget Sound Energy.In Illinois, places close to Canton, Havana, Jacksonville, Carlinville, and Olney, primarily served by Ameren's (AEE) Illinois unit, were under the same warning.The agency issued a similar warning for some areas in Indiana, including Muncie, Seymour, and Vincennes, where Duke Energy (DUK) and CenterPoint Energy (CNP) are the main service providers.The weather service also placed Michigan's Petoskey, Wisconsin's Janesville, and Minnesota's Ely under the same warning.In Arkansas, the NWS issued a flash flood warning for Hot Springs and Little Rock.

$AEE$AEP$ALE$BKH$CMS$CNP$DUK$ETR$EVRG$IDA$LNT$MGEE$NWE$OTTR$WEC$XEL
Commodities

NWS Warns of Thunderstorms in Mid-Mississippi, Florida; Fire Weather Concerns Expected in Northern Plains, Minnesota

The US National Weather Service on Monday said portions of the mid-Mississippi Valley and the Florida peninsula may experience thunderstorms, while the Northern Plains through western Minnesota will likely see elevated fire weather risk.Storms may bring hail and gusty winds in the mid-Mississippi Valley and isolated flash flooding in Florida.The NWS issued a winter storm warning for Colorado's Fort Collins, Steamboat Springs, Granby, and Boulder. Xcel Energy (XEL) and Black Hills' (BKH) Black Hills Energy are the main electricity providers in the state.The weather service posted a flood warning for areas near Washington's Winthrop, served by Puget Sound Energy.A similar warning was issued for places near Minnesota's Ely and Grand Marais, within the service zone of Allette (ALE) subsidiary Minnesota Power.In Wisconsin, the agency placed areas near Janesville, Madison, and Beaver Dam under the same warning. Alliant Energy (LNT) mainly serves these cities.Michigan's Petoskey, primarily served by CMS Energy's (CMS) Consumers Energy, was under the same warning.The weather service also issued a flood warning for Illinois' Waukegan, Aurora, Canton, Havana, Jacksonville, Carlinville, Olney, Carmi, and Carbondale. The main electricity providers in these areas are Ameren's (AEE) Illinois unit, Exelon's (EXC) ComEd, and Berkshire Hathaway Energy's (BRK.B) MidAmerican Energy.It posted a similar warning for Indiana's Terre Haute, Vincennes, Petersburg, and Seymour, primarily served by Duke Energy (DUK).The agency issued the same warning for Missouri's Cape Girardeau, within the service zone of Ameren's Missouri unit, and Arkansas' Searcy, mainly served by Entergy's (ETR) Arkansas unit.Texas' George West and Victoria, primarily served by American Electric Power's (AEP) Texas unit, were also under a similar warning.

$AEE$AEP$ALE$BKH$BRK.B$CMS$DUK$ETR$EXC$LNT$XEL
Research

Research Alert: CFRA Maintains Buy Opinion On Shares Of Cms Energy Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target by $1 to $87, 22.0x our next-12-month EPS estimate, above peers and CMS's three-year historical average of 18.4x. We trim both our 2026 and 2027 EPS views by $0.02 to $3.88 and $4.17, respectively. CMS posted Q1 adjusted EPS growth of 10.8%. CMS announced that two hyperscaler data centers had reached commercial agreement on contract terms and signed 110 MW of new load in Q1 alone (exceeding all of 2025's signings), with expected load coming online starting in 2028, all incremental to the current plan. Each 1 GW of new load provides $2B-$5B in capital investment opportunities while reducing average customer rate growth by ~2%. We think CMS offers competitive near-term EPS (~7.6% 2025-2028 CAGR) and dividend growth trajectories (~5.8%). In our view, Michigan is one of the most supportive regulatory districts in the country, with CMS's most recent electric rate case outcome highlighting regulatory willingness to support prudent investments through multiple recovery mechanisms.

$CMS
Commodities

NWS Warns of Storm-Driven Rainfall in Central Texas, Central Gulf Coast, Southeast

The US National Weather Service on Friday said central Texas through the central Gulf Coast will experience heavy to excessive rainfall due to a storm on Friday, with effects extending to the southeast of the US the following day.The agency cautioned that excessive rainfall may result in flash and urban flooding, although this could provide some reprieve to the current drought.The NWS issued a severe thunderstorm warning for the Texas towns of Hallettsville, Gonzales, New Braunfels, George West, Cotulla, Pearsall, Uvalde, and Austin, within the service zone of American Electric Power's (AEP) Texas unit.It posted a winter storm warning for New Mexico's Taos, Raton, Los Alamos, Santa Fe, and Las Vegas, primarily served by TXNM Energy (TXNM) subsidiary PNM.In Colorado, the agency issued the same warning for Woodland Park, Pikes Peak, Salida, Canon City, Westcliffe, La Veta Pass, San Luis, and Trinidad.Meanwhile, it placed some parts of the state under a freeze warning, including Craig, Steamboat Springs, Meeker, Rangely, Vail, Rifle, Aspen, Cortez, Durango, and Pagosa Springs.Xcel Energy (XEL) and Black Hills' (BKH) Black Hills Energy are the main service providers in Colorado.In Utah, where PacifiCorp's Rocky Mountain Power is the primary electricity provider, the NWS issued a freeze warning for Logan, Brigham City, Duchesne, Nephi, Delta, Manti, Richfield, Milford, Cedar City, and Bryce Canyon National Park.The weather service placed Idaho's Rexburg, Rigby, Arco, Idaho Falls, Blackfoot, and Pocatello under a similar warning. Rocky Mountain Power and Idacorp (IDA) subsidiary Idaho Power mainly serve these cities.It posted the same warning for parts of Wisconsin, spanning Race Lake, Eau Claire, Wausau, Neillsville, Whitehall, Marshfield, La Crosse, Wisconsin Dells, Stevens Point, Sheboygan, Beaver Dam, Milwaukee, Madison, Janesville, and Mineral Point.The state's main electricity providers are Xcel Energy, Alliant Energy (LNT), MGE Energy's (MGEE) Madison Gas and Electric, and WEC Energy (WEC) subsidiaries, Wisconsin Public Service and We Energies.Minnesota's Hinckley, within the service zone of Xcel Energy, was also under the same warning.The agency also posted a freeze warning for Michigan's Petoskey, Rogers City, Alpena, Gaylord, Mio, Traverse City, Houghton Lake, Cadillac, Tawas City, Clare, and Big Rapids. The state's main service providers are CMS Energy's (CMS) Consumers Energy, Upper Peninsula Power, Xcel Energy, and WEC Energy subsidiaries, Upper Michigan Energy Resources and We Energies.It placed Pennsylvania's Bradford and Dubois under the same warning. FirstEnergy (FE) units, Penelec and West Penn Power, are the major service providers in these cities.In West Virginia, the weather service issued a similar warning for Elkins, Franklin, and Snowhoe, primarily served by FirstEnergy's Mon Power. Virginia's Monterey, within the service zone of Dominion Energy (D) was also under the same warning.The NWS issued a flood warning for areas near Washington's Winthrop, served by Puget Sound Energy, and for places close to Minnesota's Ely and Grand Marais, served by Allette (ALE) subsidiary Minnesota Power.It posted a similar warning for cities near Michigan's Marquette, Iron Mountain, Newberry, and Petoskey, and parts of Wisconsin's Green Bay, Appleton, Beaver Dam, Madison, and Janesville.In Illinois, the agency issued the same warning for parts of Waukegan, Aurora, Canton, Havana, Jacksonville, Vandalia, Olney, Chester and Quincy. The main electricity providers in these areas are Ameren's (AEE) Illinois unit, Exelon's (EXC) ComEd, and Berkshire Hathaway Energy's (BRK.B) MidAmerican Energy.Areas near Missouri's St. Louis, Cape Girardeau, Jefferson City, Nevada, Boonville, and Butler were under a similar warning. Evergy (EVRG), Algonquin Power & Utilities' (AQN) Liberty, and Ameren's Missouri unit mainly serve these cities.In Indiana, the NWS posted a flood warning for parts of Terre Haute, Crawfordsville, Seymour, and Vincennes, primarily served by Duke Energy (DUK).Arkansas' Searcy and Mississippi's Columbus were under a similar warning. Entergy (ETR) mainly serves these areas through its dedicated units.In Alabama, the agency issued the same warning for areas near Demopolis and Monroeville, within the service zone of Southern Co. (SO) subsidiary Alabama Power.The weather service also placed Louisiana's Hammond, within Entergy's service zone, under the same warning.

$AEE$AEP$ALE$AQN$BKH$BRK.B$CMS$D$DUK$ETR$EVRG$EXC$FE$IDA$LNT$MGEE$SO$TXNM$WEC$XEL

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