CEG vs CMS: Which Is the Better Dividend Stock?
As of September 2026, CMS (CMS Energy Corporation) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. CMS offers the higher yield at 3.49%, CMS has the higher dividend-safety score, and CEG trades at the larger discount to fair value (+42%).
| Metric | CEG | CMS |
|---|---|---|
| Forward yield | 0.67% | 3.49% |
| Annual dividend | $1.71 | $2.28 |
| Payout ratio | 16% | 67% |
| Years of growth | 3 yr | 18 yr |
| 5-yr dividend growth | — | 5.9% |
| 5-yr total return | 431% | 8% |
| Dividend safety score | 77 (B) | 82 (A) |
| Fair value estimate | $361.39 | $69.53 |
| Upside to fair value | +42% | +6% |
| Frequency | quarterly | quarterly |
| Market cap | $90.2B | $20.2B |
| P/E ratio | 24.9 | 19.6 |
Higher yield
CMS
3.49%
Safer dividend
CMS
Grade A
Faster growth
CMS
5.9%
Better value
CEG
+42% upside
CEG vs CMS — FAQ
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