Clearway Energy, Inc. (NYSE:CWEN) Raises Dividend to $0.46 Per Share

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Tuesday, February 17th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.4602 per share on Monday, March 16th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.45.

Clearway Energy has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 2 years. Clearway Energy has a payout ratio of 164.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Clearway Energy to earn $0.57 per share next year, which means the company may not be able to cover its $1.81 annual dividend with an expected future payout ratio of 317.5%.

Clearway Energy Trading Up 0.4%

Shares of Clearway Energy stock traded up $0.15 on Wednesday, hitting $40.81. The stock had a trading volume of 57,228 shares, compared to its average volume of 1,103,188. The firm has a market capitalization of $8.32 billion, a P/E ratio of 17.47, a PEG ratio of 1.54 and a beta of 0.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.54. The stock has a 50 day moving average of $35.14 and a 200 day moving average of $32.80. Clearway Energy has a twelve month low of $25.63 and a twelve month high of $41.51.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CWEN. Canadian Imperial Bank of Commerce raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $37.00 to $38.00 in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and set a $39.00 target price on shares of Clearway Energy in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Finally, Roth Mkm raised their target price on shares of Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.71.

Clearway Energy Company Profile

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.