Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>CMS Energy’s second quarter 2026 update maintains a steady outlook rooted in a business model anchored by consistent performance, disciplined capital allocation, and a top-tier regulatory environment.</li><li>The company continues to emphasize utility investments in Michigan, focusing on long-term rate-base growth of 10.5% driven by a $24 billion investment plan.</li><li>CMS Energy reaffirmed its full-year 2026 adjusted earnings per share (EPS) guidance of $3.83 to $3.90 and introduced 2027 guidance of $4.08 to $4.17, projecting annual EPS growth of 6% to 8% in line with its long-term targets.</li></ul>

CMS Energy’s second quarter 2026 update maintains a steady outlook rooted in a business model anchored by consistent performance, disciplined capital allocation, and a top-tier regulatory environment.The company continues to emphasize utility investments in Michigan, focusing on long-term rate-base growth of 10.5% driven by a $24 billion investment plan.CMS Energy reaffirmed its full-year 2026 adjusted earnings per share (EPS) guidance of $3.83 to $3.90 and introduced 2027 guidance of $4.08 to $4.17, projecting annual EPS growth of 6% to 8% in line with its long-term targets.

CMS Energy Is Not Just Simplifying — Nearly 100% Of Growth Turns Regulated!

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Equity Derivatives

<ul><li>Broad defensive positioning dominated options markets the week of August 10.</li><li>Put-call ratios spiked to multi-year highs across financials, industrials, and post-earnings names.</li><li>At the same time, a sharp counter-current emerged: S&amp;P 500 ETFs and several growth names saw call buying hit 52-week extremes, splitting the market into two distinct camps.</li></ul>

Broad defensive positioning dominated options markets the week of August 10.Put-call ratios spiked to multi-year highs across financials, industrials, and post-earnings names.At the same time, a sharp counter-current emerged: S&amp;P 500 ETFs and several growth names saw call buying hit 52-week extremes, splitting the market into two distinct camps.

Options Weekly: Bears Hedge Everywhere — Bulls Flood Into ETFs and Cybersecurity

<ul><li>CMS Energy’s first quarter results for 2026 reflect a continuation of its established operational performance and regulatory environment, underscored by a reaffirmation of its financial guidance and strategic investments.</li><li>The company reported adjusted earnings per share (EPS) of $1.13, driven by favorable weather patterns and constructive rate relief from recent electric and gas rate cases.</li><li>This represents improvement over the prior year’s quarter, supported by NorthStar outperforming expectations and ongoing renewable project milestones.</li></ul>

CMS Energy’s first quarter results for 2026 reflect a continuation of its established operational performance and regulatory environment, underscored by a reaffirmation of its financial guidance and strategic investments.The company reported adjusted earnings per share (EPS) of $1.13, driven by favorable weather patterns and constructive rate relief from recent electric and gas rate cases.This represents improvement over the prior year’s quarter, supported by NorthStar outperforming expectations and ongoing renewable project milestones.

CMS Energy’s Hidden Catalyst: $2 Billion To $5 Billion Capex Per Gigawatt Of Load!

<ul><li>CMS Energy's recent earnings call provides a comprehensive view of its strategic direction, achievements, and challenges.</li><li>The company reported an adjusted earnings per share of $3.61 for 2025, surpassing its guidance and reflecting an 8% increase from 2024.</li><li>This positive performance is attributed to strong utility performance, effective regulatory outcomes, and robust contributions from its non-utility business, NorthStar Clean Energy.</li></ul>

CMS Energy's recent earnings call provides a comprehensive view of its strategic direction, achievements, and challenges.The company reported an adjusted earnings per share of $3.61 for 2025, surpassing its guidance and reflecting an 8% increase from 2024.This positive performance is attributed to strong utility performance, effective regulatory outcomes, and robust contributions from its non-utility business, NorthStar Clean Energy.

<ul><li>CMS Energy has showcased a strong operational, regulatory, and financial performance in its third quarter for 2025, marking it as a period of noteworthy achievements and strategic progress.</li><li>From a regulatory perspective, the company secured favorable outcomes that augment its long-term plans, such as the approval of a Renewable Energy Plan which includes 8 gigawatts of solar and 2.8 gigawatts of wind projects through 2035.</li><li>This aligns well with Michigan’s clean energy regulations and positions CMS Energy favorably within a progressive regulatory environment.</li></ul>

CMS Energy has showcased a strong operational, regulatory, and financial performance in its third quarter for 2025, marking it as a period of noteworthy achievements and strategic progress.From a regulatory perspective, the company secured favorable outcomes that augment its long-term plans, such as the approval of a Renewable Energy Plan which includes 8 gigawatts of solar and 2.8 gigawatts of wind projects through 2035.This aligns well with Michigan’s clean energy regulations and positions CMS Energy favorably within a progressive regulatory environment.

CMS Energy’s Renewable Revolution: 8GW of Solar & 2.8GW of Wind by 2035!

United States

CMS Energy Corporation is an energy company operating primarily in Michigan. The Company, through its subsidiaries provides electricity and/or natural gas to its customers in Michigan. CMS Energy also invests in and operates non-utility power generation plants in the United States and abroad.

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Cms Energy Corp (CMS US)

CMS Energy Is Not Just Simplifying — Nearly 100% Of Growth Turns Regulated!

CMS Energy’s second quarter 2026 update maintains a steady outlook rooted in a business model anchored by consistent performance, disciplined...

Baptista Research

Options Weekly: Bears Hedge Everywhere — Bulls Flood Into ETFs and Cybersecurity

Broad defensive positioning dominated options markets the week of August 10. Put-call ratios spiked to multi-year highs across financials,...

ORTEX Market Intel

CMS Energy’s Hidden Catalyst: $2 Billion To $5 Billion Capex Per Gigawatt Of Load!

CMS Energy’s first quarter results for 2026 reflect a continuation of its established operational performance and regulatory environment,...

Baptista Research

CMS Energy: Disciplined Funding

CMS Energy's recent earnings call provides a comprehensive view of its strategic direction, achievements, and challenges. The company reported an...

Baptista Research

CMS Energy’s Renewable Revolution: 8GW of Solar & 2.8GW of Wind by 2035!

CMS Energy has showcased a strong operational, regulatory, and financial performance in its third quarter for 2025, marking it as a period of...

Baptista Research

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