DTB - CMS Energy: Fairly Valued And Cash Flow A Problem

• CMS Energy is one of the largest electric and natural gas utilities in Michigan.
• The company has an incredibly aggressive clean energy program that could provide it with some growth potential.
• The company is skeptical that electricity will fully replace natural gas, particularly in the coldest states of the U.S.
• The company's balance sheet is improving but is still not as strong as some of its peers.
• The company is fairly valued and it may be straining to pay its dividend.

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