Clearway Energy, Inc. (NYSE:CWEN) Plans Quarterly Dividend of $0.47

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 1st will be given a dividend of 0.475 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Tuesday, September 1st. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.47.

Clearway Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Clearway Energy has a payout ratio of 170.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Clearway Energy to earn $0.66 per share next year, which means the company may not be able to cover its $1.87 annual dividend with an expected future payout ratio of 283.3%.

Clearway Energy Trading Down 1.9%

Shares of Clearway Energy stock opened at $31.12 on Thursday. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 778.12 and a beta of 0.89. Clearway Energy has a twelve month low of $27.67 and a twelve month high of $41.74. The business has a 50-day moving average price of $35.40 and a 200-day moving average price of $37.46. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Equities research analysts anticipate that Clearway Energy will post -1.03 EPS for the current fiscal year.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.