Clearway Energy (NYSE:CWEN) Announces Earnings Results

Clearway Energy (NYSE:CWEN) posted its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17), Briefing.com reports. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same period last year, the firm posted $0.03 EPS. Clearway Energy’s revenue was up 31.0% on a year-over-year basis.

Clearway Energy Stock Down 2.7 %

Clearway Energy stock traded down $0.77 during midday trading on Friday, hitting $27.61. The stock had a trading volume of 927,747 shares, compared to its average volume of 859,565. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.58 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.34 and a beta of 0.86. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The business has a fifty day moving average price of $28.40 and a 200 day moving average price of $26.92.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.424 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.14%. Clearway Energy’s dividend payout ratio (DPR) is presently 162.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CWEN shares. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. BNP Paribas assumed coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. Roth Mkm restated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. Finally, CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.13.

About Clearway Energy

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.