Clearway Energy, Inc. (CWEN) to Distribute Quarterly Dividend of $0.48 on December 15th

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Monday, November 9th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.4824 per share on Tuesday, December 15th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.4750.

Clearway Energy has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 2 years. Clearway Energy has a dividend payout ratio of 172.7% meaning 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 $0.60 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 316.7%.

Clearway Energy Stock Down 0.0%

Shares of NYSE CWEN opened at $34.69 on Wednesday. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74. The stock has a market capitalization of $7.12 billion, a PE ratio of -42.30 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. The firm has a fifty day moving average of $31.24 and a 200-day moving average of $35.53.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.41). Clearway Energy had a negative net margin of 5.64% and a negative return on equity of 1.66%. The firm had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $513.11 million. On average, analysts anticipate that Clearway Energy will post -0.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $38.00 target price on shares of Clearway Energy in a research note on Friday, September 4th. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Morgan Stanley decreased their target price on Clearway Energy from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Weiss Ratings downgraded Clearway Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce set a $42.00 price target on Clearway Energy in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Clearway Energy currently has a consensus rating of “Buy” and an average price target of $42.00.

About Clearway Energy

Clearway Energy, Inc. owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure. The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions. Clearway Energy was formerly known as NRG Yield, Inc. and adopted its current name in 2018.