Clearway Energy, Inc. (CWEN) To Go Ex-Dividend on December 2nd

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders 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 yield of 5.75%. 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 by an average of 13.6% annually over the last three years. Clearway Energy has a payout ratio of 326.9% 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 $0.43 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 395.3%.

Clearway Energy Stock Performance

Shares of NYSE:CWEN opened at $29.50 on Friday. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The business has a 50 day moving average of $28.21 and a 200-day moving average of $27.48. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.96 billion, a PE ratio of 28.37, a P/E/G ratio of 1.41 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, equities research analysts forecast that Clearway Energy will post 0.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CWEN. Jefferies Financial Group started coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. CIBC boosted their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BNP Paribas assumed coverage on Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.