Clearway Energy, Inc. Forecasted to Earn Q3 2024 Earnings of $0.41 Per Share (NYSE:CWEN)

Clearway Energy, Inc. (NYSE:CWEN) – Research analysts at Roth Capital reduced their Q3 2024 earnings per share estimates for Clearway Energy in a report released on Thursday, August 1st. Roth Capital analyst J. Clare now expects that the company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.49. The consensus estimate for Clearway Energy’s current full-year earnings is $0.74 per share. Roth Capital also issued estimates for Clearway Energy’s Q4 2025 earnings at ($0.08) EPS and FY2026 earnings at $1.24 EPS.

Other equities analysts also recently issued reports about the stock. Evercore ISI raised their price objective on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Clearway Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

Clearway Energy Stock Up 4.1 %

CWEN opened at $28.56 on Monday. The company has a market capitalization of $5.77 billion, a P/E ratio of 43.27 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.65. The firm’s fifty day moving average price is $26.14 and its two-hundred day moving average price is $24.51. Clearway Energy has a fifty-two week low of $18.59 and a fifty-two week high of $28.79.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.23). The firm had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC lifted its holdings in shares of Clearway Energy by 8.5% during the 2nd quarter. Ballentine Partners LLC now owns 15,253 shares of the company’s stock valued at $377,000 after purchasing an additional 1,189 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in Clearway Energy during the 2nd quarter worth approximately $346,000. TrueMark Investments LLC acquired a new stake in Clearway Energy during the 2nd quarter worth approximately $641,000. Whittier Trust Co. lifted its stake in Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Clearway Energy by 107.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 47,931 shares of the company’s stock valued at $1,183,000 after buying an additional 24,864 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.417 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.84%. Clearway Energy’s payout ratio is 248.49%.

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.