Clearway Energy (CWEN) Set to Announce Earnings on Thursday

Clearway Energy (NYSE:CWEN) will issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The business had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, analysts expect Clearway Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $24.79 on Wednesday. The business has a 50 day moving average price of $22.64 and a two-hundred day moving average price of $23.74. Clearway Energy has a fifty-two week low of $18.59 and a fifty-two week high of $31.72. The firm has a market cap of $5.01 billion, a PE ratio of 36.46 and a beta of 0.86. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.403 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.50%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio (DPR) is presently 236.76%.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies bought 196,964 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were bought at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the completion of the purchase, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CWEN shares. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Royal Bank of Canada lowered their price objective on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Oppenheimer increased their target price on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Morgan Stanley raised their price objective on Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.33.

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.