Jackson, MI-based CMS Energy Corporation CMS reported first-quarter 2016 adjusted earnings per share of 59 cents, missing the Zacks Consensus Estimate of 68 cents by 13.2%. Quarterly earnings also plunged 19.2% from the year-ago figure of 73 cents.Operational PerformanceIn the quarter under review, CMS Energy’s operating revenues were $1,801 million, missing the Zacks Consensus Estimate of $2,145 million by 16%. On a year-over-year basis too, revenues were down 14.7% from $2,111 million.The company’s operating expenses declined 14.5% to $1,465 million.Operating income was $336 million, down from $397 million a year ago.CMS Energy’s interest charges were $106 million, up from $101 million in the year-ago period.Financial ConditionCMS Energy had cash and cash equivalents of $177 million as of Mar 31, 2016, down from $266 million as of Dec 31, 2015.As of Mar 31, 2016, total debt, capital leases and financing obligations decreased to $8,881 million from $9,120 million as of Dec 31, 2015.In the first quarter, cash from operating activities was $632 million compared with $760 million in the year-ago period.GuidanceCMS Energy reaffirmed its 2016 adjusted earnings per share guidance in the range of $1.99–$2.02. Long-term adjusted earnings growth continues to be expected in the range of 5–7%.Peer ReleasesDTE Energy Company DTE reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate. Reported earnings, however, dropped 7.9% from the year-ago figure of $1.65.Entergy Corporation ETR reported first-quarter 2016 operational earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.17 by 15.4%. The reported number, however, plunged 19.6% from $1.68 per share reported in the year-ago period.FirstEnergy Corporation FE announced first-quarter 2016 operating earnings of 80 cents per share, outpacing the Zacks Consensus Estimate of 76 cents by 5.3% and surging 29% from the prior-year figure of 62 cents.Zacks RankCMS Energy currently has a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CMS ENERGY (CMS): Free Stock Analysis Report ENTERGY CORP (ETR): Free Stock Analysis Report FIRSTENERGY CP (FE): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research