FY2021 EPS Estimates for Clearway Energy, Inc. Reduced by Seaport Res Ptn (NYSE:CWEN)

Clearway Energy, Inc. (NYSE:CWEN) – Research analysts at Seaport Res Ptn decreased their FY2021 earnings estimates for shares of Clearway Energy in a research report issued on Monday, July 19th. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will earn $0.02 per share for the year, down from their previous forecast of $0.05.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.68. The company had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $244.00 million. Clearway Energy had a net margin of 4.84% and a return on equity of 5.19%.

Several other research analysts have also recently weighed in on CWEN. Seaport Global Securities raised shares of Clearway Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, March 30th. Wolfe Research raised shares of Clearway Energy from a “peer perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Thursday, March 25th. Tudor Pickering initiated coverage on shares of Clearway Energy in a report on Friday, April 23rd. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Clearway Energy from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.60.

Shares of CWEN stock opened at $27.30 on Wednesday. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a 50-day moving average price of $26.70. The company has a market cap of $5.51 billion, a PE ratio of 54.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.55. Clearway Energy has a 52-week low of $22.69 and a 52-week high of $37.23.

Several large investors have recently made changes to their positions in CWEN. ClearBridge Investments Ltd boosted its position in shares of Clearway Energy by 5.6% during the 1st quarter. ClearBridge Investments Ltd now owns 4,704,664 shares of the company’s stock worth $132,389,000 after acquiring an additional 249,459 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of Clearway Energy by 323.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 307,458 shares of the company’s stock worth $9,817,000 after acquiring an additional 234,910 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $6,020,000. Principal Street Partners LLC boosted its position in shares of Clearway Energy by 142.6% during the 1st quarter. Principal Street Partners LLC now owns 374,795 shares of the company’s stock worth $10,547,000 after acquiring an additional 220,308 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Clearway Energy by 34.7% during the 1st quarter. Alps Advisors Inc. now owns 797,855 shares of the company’s stock worth $22,452,000 after acquiring an additional 205,590 shares in the last quarter. Hedge funds and other institutional investors own 35.30% of the company’s stock.

In other Clearway Energy news, CEO Christopher S. Sotos bought 2,000 shares of the firm’s stock in a transaction on Monday, May 10th. The shares were purchased at an average price of $24.55 per share, for a total transaction of $49,100.00. Following the transaction, the chief executive officer now directly owns 27,100 shares in the company, valued at approximately $665,305. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Infrastructure Investor Global bought 16,219 shares of the firm’s stock in a transaction on Monday, June 14th. The shares were acquired at an average price of $25.70 per share, for a total transaction of $416,828.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 23,590 shares of company stock worth $603,587. Company insiders own 0.43% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st were given a dividend of $0.329 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, May 28th. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.32. Clearway Energy’s dividend payout ratio is presently 220.00%.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. As of March 2, 2021, it had approximately 4,200 net megawatts (MW) of installed wind and solar generation projects; and 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

Further Reading: Ex-Dividend

Earnings History and Estimates for Clearway Energy (NYSE:CWEN)

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