Item 5. Market for Registrant’s Common Equity
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
CMS Energy
CMS Energy’s common stock is traded on the New York Stock Exchange under the symbol CMS. Market prices for CMS Energy’s common stock and related security holder matters are contained in Item 6. Selected Financial Data, which is incorporated by reference herein. At January 15, 2021, the number of registered holders of CMS Energy’s common stock totaled 28,083, based on the number of record holders.
For additional information regarding securities authorized for issuance under equity compensation plans, see Item 8. Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 13, Stock-Based Compensation and Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. For additional information regarding dividends and dividend restrictions, see Item 8. Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 5, Financings and Capitalization.
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Comparison of Five-year Cumulative Total Return
Five-Year Cumulative Total Return
Company/Index 2015 2016 2017 2018 2019 2020
CMS Energy $ 100 $ 119 $ 139 $ 151 $ 196 $ 195
S&P 500 Index 100 112 136 130 171 203
Dow Jones Utility Index 100 118 134 137 174 177
S&P 400 Utilities Index 100 127 141 151 173 149
These cumulative total returns assume reinvestments of dividends.
Consumers
Consumers’ common stock is privately held by its parent, CMS Energy, and does not trade in the public market.
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Issuer Repurchases of Equity Securities
Presented in the following table are CMS Energy’s repurchases of equity securities for the three months ended December 31, 2020:
Period Total Number of Shares Purchased 1
Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under Publicly Announced Plans or Programs
October 1, 2020 to October 31, 2020 406 $ 63.78 — —
November 1, 2020 to November 30, 2020 235 63.92 — —
December 1, 2020 to December 31, 2020 623 59.48 — —
Total 1,264 $ 61.69 — —
1 All of the common shares were repurchased to satisfy the minimum statutory income tax withholding obligation for common shares that have vested under the PISP. The value of shares repurchased is based on the market price on the vesting date.
Unregistered Sales of Equity Securities
None.
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Item 6. Selected Financial Data
CMS Energy Corporation
2020 2019 2018 2017 2016
Operating revenue (in millions) ($) 6,680 6,845 6,873 6,583 6,399
Income from equity method investees (in millions) ($) 5 10 9 15 13
Net income (in millions) ($) 752 682 659 462 553
Income (loss) attributable to noncontrolling interests (in millions) ($) (3) 2 2 2 2
Net income available to common stockholders (in millions) ($) 755 680 657 460 551
Average common shares outstanding (in millions) 285.0 283.0 282.2 280.0 277.9
Earnings per average common share
– Basic ($) 2.65 2.40 2.33 1.64 1.99
– Diluted ($) 2.64 2.39 2.32 1.64 1.98
Cash provided by operations (in millions) ($) 1,276 1,790 1,703 1,705 1,629
Capital expenditures, excluding assets placed under finance lease (in millions) ($) 2,317 2,104 2,074 1,665 1,672
Total assets (in millions) ($) 29,666 26,837 24,529 23,050 21,622
Long-term debt, excluding current portion (in millions) ($) 13,634 11,951 10,615 9,123 8,640
Non‑current portion of finance leases and other financing (in millions) ($) 56 76 69 91 110
Cash dividends declared per common share ($) 1.63 1.53 1.43 1.33 1.24
Market price of common stock at year-end ($) 61.01 62.84 49.65 47.30 41.62
Book value per common share at year-end ($) 19.02 17.67 16.78 15.77 15.23
Total employees at year-end 8,837 8,789 8,625 7,952 7,800
Electric Utility Statistics
Sales (billions of kWh) 35 37 38 37 38
Customers (in thousands) 1,866 1,848 1,831 1,826 1,805
Average sales rate per kWh (¢) 11.74 11.64 11.78 11.98 11.63
Gas Utility Statistics
Sales and transportation deliveries (bcf) 360 391 386 352 358
Customers (in thousands) 1
1,804 1,793 1,784 1,776 1,772
Average sales rate per mcf ($) 7.60 7.44 7.44 7.51 7.31
1 Excludes off-system transportation customers.
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Consumers Energy Company
2020 2019 2018 2017 2016
Operating revenue (in millions) ($) 6,189 6,376 6,464 6,222 6,064
Net income (in millions) ($) 816 743 705 632 616
Net income available to common stockholder (in millions) ($) 814 741 703 630 614
Cash provided by operations (in millions) ($) 1,218 1,601 1,449 1,715 1,681
Capital expenditures, excluding assets placed under finance lease (in millions) ($) 2,170 2,085 1,822 1,632 1,656
Total assets (in millions) ($) 25,399 23,699 22,025 21,099 19,946
Long-term debt, excluding current portion (in millions) ($) 7,742 7,048 6,779 5,561 5,253
Non‑current portion of finance leases and other financing (in millions) ($) 56 76 69 91 110
Total preferred stock (in millions) ($) 37 37 37 37 37
Number of preferred stockholders at year-end 922 968 1,017 1,056 1,095
Total employees at year-end 8,230 8,253 8,121 7,496 7,366
Electric Utility Statistics
Sales (billions of kWh) 35 37 38 37 38
Customers (in thousands) 1,866 1,848 1,831 1,826 1,805
Average sales rate per kWh (¢) 11.74 11.64 11.78 11.98 11.63
Gas Utility Statistics
Sales and transportation deliveries (bcf) 360 391 386 352 358
Customers (in thousands) 1
1,804 1,793 1,784 1,776 1,772
Average sales rate per mcf ($) 7.60 7.44 7.44 7.51 7.31
1 Excludes off-system transportation customers.
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