Clearway Energy, Inc. (NYSE:CWEN) Plans Quarterly Dividend of $0.42

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.424 per share on Monday, December 16th. This represents a $1.70 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42.

Clearway Energy has raised its dividend payment by an average of 13.6% per year over the last three years. Clearway Energy has a dividend payout ratio of 137.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Clearway Energy to earn $0.64 per share next year, which means the company may not be able to cover its $1.70 annual dividend with an expected future payout ratio of 265.6%.

Clearway Energy Price Performance

CWEN stock opened at $27.77 on Thursday. Clearway Energy has a one year low of $20.63 and a one year high of $30.92. The company’s fifty day moving average price is $28.46 and its 200-day moving average price is $26.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The company has a market capitalization of $5.61 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The company had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. During the same period last year, the firm posted $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities analysts anticipate that Clearway Energy will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CWEN has been the topic of several research analyst reports. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. BNP Paribas assumed coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.