Clearway Energy, Inc. (CWEN) To Go Ex-Dividend on June 1st

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.4676 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, June 1st. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.46.

Clearway Energy has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Clearway Energy has a dividend payout ratio of 170.0% 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 research analysts expect Clearway Energy to earn $1.17 per share next year, which means the company may not be able to cover its $1.87 annual dividend with an expected future payout ratio of 159.8%.

Clearway Energy Price Performance

Shares of CWEN opened at $41.14 on Friday. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 1,028.86 and a beta of 0.87. The stock has a 50 day moving average of $39.13 and a 200-day moving average of $37.07. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. Clearway Energy has a 52 week low of $27.67 and a 52 week high of $41.60.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. As a group, analysts forecast that Clearway Energy will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group set a $45.00 price objective on Clearway Energy in a research report on Tuesday, February 24th. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Roth Mkm restated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.