Comparing Vistra and CMS Energy Utilities

Analyzing the financial performance and growth potential of two major U.S. utility companies.

Published on Feb. 20, 2026

Got story updates? Submit your updates here. ›

Vistra (NYSE:VST) and CMS Energy (NYSE:CMS) are both large-cap utilities companies, but which one is the better investment? This article compares the two companies across key metrics like dividends, institutional ownership, earnings, valuation, profitability, and analyst recommendations to determine which utility stock is more favorable.

Why it matters

As major players in the U.S. utility sector, the performance and outlook for Vistra and CMS Energy are important indicators for investors interested in the energy industry. This analysis provides insight into the relative strengths and weaknesses of these two utility companies, helping investors make more informed decisions.

The details

The analysis finds that Vistra has higher revenue and earnings than CMS Energy, as well as a stronger consensus rating from research analysts. Vistra also has a higher dividend yield of 0.5% compared to CMS Energy's 2.9%, though CMS Energy has a lower payout ratio. Both companies have high institutional ownership, over 90%, indicating strong backing from major investors. In terms of valuation, CMS Energy is trading at a lower price-to-earnings ratio, making it the more affordable of the two stocks currently.

  • The analysis is based on data as of February 18, 2026.

The players

Vistra

A large-cap utilities company that operates an integrated retail electricity and power generation business across multiple U.S. states.

CMS Energy

A large-cap utilities company that provides electric and natural gas services primarily in the state of Michigan.

Got photos? Submit your photos here. ›

The takeaway

This analysis highlights the key differences between Vistra and CMS Energy, two major U.S. utility companies. While both have strong fundamentals, Vistra appears to have an edge in terms of financial performance and analyst sentiment, making it the more favorable investment option between the two based on the available data.