Clearway Energy (NYSE:CWEN) Issues Earnings Results

Clearway Energy (NYSE:CWENGet Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.25, Briefing.com reports. The business had revenue of $263.00 million for the quarter, compared to analyst estimates of $286.26 million. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. The firm’s quarterly revenue was down 8.7% on a year-over-year basis.

Clearway Energy Price Performance

Shares of CWEN stock traded up $0.57 during mid-day trading on Friday, hitting $27.06. 1,347,042 shares of the stock traded hands, compared to its average volume of 885,094. The company’s 50-day simple moving average is $22.89 and its 200-day simple moving average is $23.81. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $31.72. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 41.01 and a beta of 0.86. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.71.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.41 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date is Monday, June 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 243.94%.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies bought 196,964 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares in the company, valued at $6,749,072.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CWEN. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Royal Bank of Canada dropped their price objective on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 27th. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Morgan Stanley raised their price target on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, Oppenheimer raised their target price on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.33.

Get Our Latest Stock Analysis on CWEN

About Clearway Energy

(Get Free Report)

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.

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Earnings History for Clearway Energy (NYSE:CWEN)

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