CMS Energy Corporation

Peter Thiel's Thiel Macro LLC disclosed a $418.7 million portfolio across eight positions as of June 30, 2026, with seven of the eight bets focused on the physical energy bottleneck constraining AI buildout. The largest disclosed positions are Amazon at $118.0 million, Vista Energy at $75.9 million, Vistra at $59.1 million, American Electric Power at $42.2 million, DTE Energy at $40.3 million, FirstEnergy at $39.9 million, CMS Energy at $39.6 million, and X-Energy at $3.7 million. The filing reflects long US equity positions only and excludes shorts, derivatives, private stakes, and non-US listings. The thesis centers on power supply rather than chips, with utilities like American Electric Power disclosing 69 gigawatts of contracted load additions through 2030 and a $78 billion five-year capital plan, while Vistra leverages its nuclear fleet and the pending Cogentrix deal. Amazon's AWS revenue surged 36.7% year-over-year to $42.2 billion in Q2, and its roughly $500 million investment in X-Energy positions it as both a creator and solver of the AI power bottleneck.

CMS Energy announced it will exit nonutility renewable development and reallocate $1.7 billion of capital to its utility operations, a strategic shift that will make nearly all future earnings rate-based. The company reaffirmed its full-year 2026 adjusted earnings per share guidance of $3.83 to $3.90 and introduced 2027 guidance of $4.08 to $4.17 per share. A $24 billion utility investment plan is expected to drive 10.5% compounded rate base growth, while the restructuring reduces parent financing needs by over $500 million through 2030. CMS also plans $700 million in equity issuance this year, with $500 million already completed.

CMS Energy has a positive Earnings ESP of +6.57% and a Zacks Rank #3 (Hold), a combination that historically produces an earnings beat nearly 70% of the time. The company has surpassed earnings estimates in each of the last two quarters, with an average surprise of 1.43%. In its most recent quarter, CMS Energy reported earnings of $1.13 per share versus the Zacks Consensus Estimate of $1.11 per share, a surprise of 1.80%. The next earnings report is expected on July 28, 2026.

CMS Energy has appointed Polly Harris as its new vice president of human resources, effective July 20. Harris joins from Union Pacific Railroad, where she most recently held the same role. She brings more than two decades of HR experience, having previously worked at John Deere and Conagra Brands before spending over 18 years at Union Pacific. Harris holds a bachelor's degree from the University of Iowa and an MBA from the University of Phoenix, and completed the Advanced HR Executive Program at the Michigan Ross School of Business.

CMS Energy holds a slight advantage over PPL Corporation based on return on equity, capital investment plans, and recent price performance, according to a Zacks Investment Research analysis. CMS Energy's return on equity stands at 12.17%, exceeding PPL's 9.41% and the industry average of 11.21%. CMS plans $24 billion in capital expenditures from 2026 to 2030, with 72% directed to electric operations, while PPL targets $23 billion from 2026 to 2029. CMS shares have gained 11.4% over the past six months, compared with a 4.9% rise for PPL. Both stocks carry a Zacks Rank #3 (Hold).