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CMS Energy Stock Price

61.88 -0.15 -0.24% Volume: 726,799 12.08.21 04:03 ET


Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk.

CMS Energy, Corp. (“CMS”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience purposes only. By clicking “Accept” you acknowledge and agree that neither CMS nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably waive any and all rights and claims against CMS and Virtua and further acknowledge and agree that in no event shall CMS or Virtua, its officers, employees, directors and agents be liable for any (i) indirect, consequential, incidental, special, compensatory or punitive damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to the Legal Notice, this disclaimer or the External Site

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if CMS and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s). If in any jurisdiction, any part of this disclaimer is held to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent and the remaining disclaimer shall otherwise remain in full force and effect.

Please note the information presented is deemed representative at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, CMS may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including net income, earnings per share, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. CMS provides historical financial results on both a GAAP and non-GAAP basis. Management views adjusted earnings as a key measure of the company’s present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company’s reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings.

CMS and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should be considered supplemental information to assist in fully understanding our business results, rather than as a substitute for the reported earnings.

A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included as a separate link and also posted on the CMS website at

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Corporate Political Engagement

CMS Energy Corporation and its wholly owned subsidiaries, including its principal subsidiary, Consumers Energy Company (collectively, the "Corporation"), engage in advocacy through regular, constructive and transparent interactions with government officials, policymakers and stakeholder groups. Policy decisions of lawmakers and regulators at the federal, state and local levels can significantly impact the business environment in which we operate, especially because our core utility business is highly regulated.

To meet Michigan's energy needs and help the state's communities thrive, we are committed to providing safe, reliable and affordable energy related services. Our advocacy activities are directed toward fulfilling that promise, without regard to the personal political affiliations or views of any individual at any level across the organization. In engaging in the political process, the Corporation is committed to upholding its core values and adhering to the highest standards of ethical conduct.

Corporate Political Contributions - Governance and Decision-Making
Federal and state campaign finance laws prohibit the Corporation from making direct contributions to candidates and to national and state political parties for general campaign purposes. However, the Corporation does make contributions for grassroots activities, issue advocacy, voter registration, and other activities consistent with federal and state law. The Corporation is also permitted under Michigan law to make contributions to state and local ballot question committees.

Beginning with contributions made in 2021, the Corporation will enhance disclosure by posting on its website the following political contributions at all levels of government. This disclosure will occur at least annually, and the Corporation intends to provide semi-annual disclosure by 2023.

  • Expenditures made to influence the outcome of ballot initiatives.
  • Direct corporate contributions to an entity organized under Section 527 of the Internal Revenue Code when annual contributions exceed $25,000.
  • Direct corporate contributions to an entity organized under Section 501(c)(4) of the Internal Revenue Code when annual contributions exceed $25,000.
  • Non-deductible portion of trade association and other organization dues when annual mandatory membership dues exceed $25,000.

The Corporation does not currently make direct independent expenditures in support or opposition to a campaign, but if the Corporation does so in the future, the Corporation will disclose such contributions and expenditures.

All corporate political contributions come from the Corporation’s general funds and are not reflected in utility customer rates. To the extent possible, the Corporation’s stated positions and goals are consistent with the organizations receiving contributions. We recognize that organizations’ positions may align with some of the Corporation’s interests but conflict with other interests. However, none of these conflicts are significant and, in these instances, we base our involvement and support on those areas of mutual agreement, as well as providing an opportunity to hear different perspectives of others and voice our opinions on public policy issues and our values. 

As part of their oversight functions, the Boards of Directors of CMS and Consumers (collectively, the “Board”) oversee our political engagement policies, programs and practices. The Governance, Sustainability and Public Responsibility Committee is responsible for advising and assisting the Board with respect to our political engagement.

Corporate Political Contributions - Procedures
Corporate political contributions are made according to the following procedures: Governmental Affairs initiates a contribution recommendation/request. The request and entity are reviewed and approved by the legal department if sufficient. The request is then reviewed and approved by the general counsel, the senior vice president of governmental, regulatory and public affairs and the vice president and corporate secretary. Pursuant to a Board adopted policy, as recommended by the Governance, Sustainability and Public Responsibility Committee, any contribution $2,500 or less requires no further approval, a contribution $2,500 - $10,000 is approved by the president and chief executive officer, and contribution requests over $10,000 requires prior approval of the president and chief executive officer and the Board.

All expenditures for political purposes for the prior year are reported to the Board on an annual basis for review and reference. At the same time, any proposed contributions for the present year are provided for discussion and approval. Apart from the pre-approved list of proposed contributions, there may be additional requests brought forward during the year on an ad hoc basis which follow the outline of procedures above. Last, the Board also approve the overall corporate budgets that support our political activities.

Lobbying and Trade Associations
The Corporation holds memberships in industry, trade and business associations representing the energy/utility industry and the business community. Engaging with other business and industry stakeholders helps us gain perspective and views on public policy issues that impact our Corporation, our shareholders, our customers and our employees. We make reasonable efforts to track and report payments made to trade associations, chambers of commerce and other tax-exempt organizations that may be used for political purposes that would not be deductible as defined under Section 162(e)(1) of the Internal Revenue Code. CMS Energy and its affiliates disclose payments when they exceed $25,000 and when the trade association uses a portion of the money for federal lobbying activities.

Organization 2020 Membership Dues 2020 Portion Used for Political Purpose
Edison Electric Institute $1,150,669 $161,093.63
American Gas Association $709,698 $44,001.28

As required by federal law, the Corporation discloses on its quarterly lobbying filing with the U.S. Congress those funds supporting federal lobbying activities of national trade associations.

Lobbying Disclosure
Federal Filing
(LD-2 Report)
Lobbying Contributions
Federal Filing
(LD-203 Report)
Lobbying Expenditures
State Financial
Q4 2020 2020 Year-End Expense Detail
Q3 2020
Q2 2020 2020 Mid-Year
Q1 2020

Political Action Committee
The Corporation maintains a separate segregated fund and corporate political action committee (“PAC”), which is registered with the Federal Election Commission, and a state PAC, which is registered in Michigan. CMS Energy Corporation Employees for Better Government (“EBG”) is nonprofit, nonpartisan and governed by an employee-run steering committee that’s independent of the Corporation’s officers and Board. Participation in the PAC is voluntary and gives employees a voice in the political process. Coercing or pressuring any employee to participate in or contribute to EBG is strictly prohibited. Our bylaws can be found here: CMS Energy’s Employees for Better Government bylaws.

The elected members of EBG’s Steering Committee review contribution requests and allocate qualified employee contributions to political and campaign committees as well as to specific candidate campaigns based on criteria that may include:

  • Representation of a state or district where the Corporation has a facility or large concentration of employees.
  • Voting record or announced positions on issues important to the Corporation.
  • Demonstrated leadership on key committees of importance to our business.
  • Current leadership or potential for legislative leadership.

All political contributions accepted or made by our federal or state PACs are reported, consistent with applicable requirements, to the federal or state election commission and can be found here: EBG’s state political contributions and EBG’s federal political contributions.

Contact the EBG Manager by email at with any questions about the PAC.

Standards for Employees
The communities that the Corporation serves are the backbone of its business. The Corporation is committed to helping these communities succeed - not just with energy related services, but also with personal and corporate commitments. Every day, employees offer their time, talents and finances to support the places where they live and work.

The Corporation is justifiably proud of the role its employees play in helping make the Michigan communities we serve great places to live and work and encourages employees to participate in a wide range of civic activities. This includes employee participation in the political process. Employees must comply with all applicable legal, ethical and Corporation requirements, including those set forth in the Honest Leadership and Open Government Act (HLOGA) of 2007. In general, employees are prohibited from conducting such actions during normal business hours or utilizing corporate resources.

Employees may campaign for public office or support others seeking office on non-work time and may even secure reasonable time off to do so. The following conditions apply:

  • Employees must obtain written approval from their supervisor before seeking election or appointment to a public office.
  • If elected or appointed, employees must seek approval from their supervisor for reasonable time off without pay to fulfill those duties.
  • To avoid conflicts of interest, employees elected or appointed to public office must excuse themselves from actions or decisions on issues that could impact the Corporation.

Campaign finance laws and the regulation of political activity are complex. Employees must direct questions regarding political activity to their supervisor, the governmental affairs department, the legal department or the chief compliance officer.

The Corporation complies with all federal and state laws governing corporate political participation. Our political contributions made during the year were all made in compliance with corporate policies. To learn more about our policies about participating in political activities and corporate political activities, please review our Employee Code of Conduct.

Further, we maintain robust processes for reporting of violations and validating compliance with the law and corporate policy. Personnel who believe they have witnessed illegal or unethical behavior relating to political activities are encouraged to discuss the matter with their manager, Human Resources representative, the Legal Department or the Compliance Department.

Actual or potential violations may be reported without risk of retaliation by using the information below:
Phone: 866-ETHICSP, 866-384-4277
Updated April 2021

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