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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Julien Dumoulin-Smith | Jefferies | 13 | 0% |
| Andy Weisel | Scotiabank | 11 | 0% |
| Nick Campanella | Barclays | 10 | 10% |
| Mike Sullivan | Wolfe Research | 9 | 0% |
| Jeremy Tonet | JPMorgan | 7 | 0% |
| Dave Arcaro | Morgan Stanley | 6 | 0% |
| Shar Pourreza | Wells Fargo | 6 | 17% |
| Durgesh Chopra | Evercore ISI | 5 | 0% |
| Travis Miller | Morningstar | 5 | 0% |
| Aiden Kelly | JPMorgan | 2 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Jefferies | 1 | 13 | 0% |
| Scotiabank | 1 | 11 | 0% |
| Barclays | 1 | 10 | 10% |
| Wolfe Research | 1 |
| 9 |
| 0% |
| JPMorgan | 2 | 9 | 0% |
| Wells Fargo | 2 | 7 | 14% |
| Morgan Stanley | 1 | 6 | 0% |
| Evercore ISI | 1 | 5 | 0% |
CMS Energy delivered adjusted Q1 EPS of $1.13, supported by rate relief driving a $0.11 per share positive variance, partially offset by $0.05 from a sizable March ice storm. An electric rate case order approved 65% of the ask with 9.9% ROE maintained, and data center contracts progressed toward final terms with 110 MW of new load signed in Q1 alone, already exceeding full-year 2025 signings. Full-year guidance was reaffirmed at $3.83-$3.90 with confidence toward the high end, though Moody's moved the utility to negative outlook.
Regulation Policy | Demand | Capital Allocation | Capex Investment | Subscriber Growth | Margin | Revenue Growth | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 3 | 3 | 4 | 1 | 2 | 2 | 1 |
| 2025Q1 | 9 | 4 | 2 | 2 | 1 | 4 | 5 | |
| 2025Q2 | 2 | 3 | 1 | 1 | 1 | |||
| 2025Q3 | 3 | 5 | 2 | 6 | 2 | 3 | 1 | |
| 2025Q4 | 7 | 5 | 2 | 2 | 1 | 2 | 1 | |
| 2026Q1 | 9 | 9 | 7 | 2 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Regulation Policy | 5 | 9 | 2 | 3 | 7 | 9 |
| Demand | 3 | 4 | 3 | 5 | 5 | 9 |
| Capital Allocation | 3 | 2 | 1 | 2 | 2 | 7 |
| Capex Investment | 4 | 2 | 1 | 6 | 2 | 2 |
| Subscriber Growth | 1 | 1 | 1 | 2 | 1 | 2 |
| Margin | 2 | 4 | 2 | |||
| Revenue Growth | 2 | 3 | 1 | 1 | ||
| Cost Pressure | 1 | 5 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CMS CMS Energy | 6 | +11.6% | |
| AEE Ameren | 7 | +3.8% | |
| AEP American Electric Power | 5 | +6.8% | |
| CNP CenterPoint Energy | 5 | +1.9% | |
| D Dominion Energy | 7 | +23.1% | |
| DTE DTE Energy | 7 | +15.8% | |
| DUK Duke Energy | 8 | +11.3% | |
| ED Consolidated Edison | 6 | +6.2% | |
| EIX Edison International | 6 | +7.7% | |
| ES Eversource Energy | 6 | +9.4% | |
| ETR Entergy | 8 | +12.0% | |
| EVRG Evergy | 7 | +5.5% | |
| EXC Exelon | 6 | +7.9% | |
| FE FirstEnergy | 7 | +11.6% | |
| LNT Alliant Energy | 5 | +5.0% | |
| NEE NextEra Energy | 6 | +7.3% | |
| PCG PG&E Corporation | 8 | +15.0% | |
| PEG Public Service Enterprise Group | 9 | +19.4% | |
| PNW Pinnacle West | 8 | +11.4% | |
| PPL PPL Corporation | 7 | +10.8% | |
| SO Southern Company | 6 | +8.0% | |
| WEC WEC Energy Group | 7 | +9.0% | |
| XEL Xcel Energy | 6 | +2.9% |