CMS Energy falls after announcing planned $750 mln convertible bonds sale
Shares of electric and gas utility CMS Energy CMS.N fall 1.8% premarket to $72.33 after unveiling capital raise to refinance debt
Jackson, Michigan-based CMS announces private offering of $750 mln convertible bonds due 2031
It intends to use net offering proceeds to retire its $250 mln outstanding 3.6% notes, which will mature on Nov 15, 2025, remainder for general corp purposes
CMS has roughly $22.4 bln market cap
Early Thurs, CMS posted Q3 earnings beat and forecasted higher 2026 earnings on robust power demand from AI data centers and hyperscalers
Stock on Fri closed up 0.5% at $73.55, up about 10% YTD. In comparison, S&P 500 Utilities index .SPLRCU up 17.5% in 2025
9 of 17 analysts covering CMS rate stock "strong buy" or "buy", rest rate "hold"; median PT is $79.50, per LSEG
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