Clearway Energy, Inc. (CWEN) to Issue Quarterly Dividend of $0.43 on March 17th

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Monday, February 17th, Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.4312 per share on Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42.

Clearway Energy has raised its dividend payment by an average of 7.6% annually over the last three years. Clearway Energy has a payout ratio of 390.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Clearway Energy to earn $0.57 per share next year, which means the company may not be able to cover its $1.72 annual dividend with an expected future payout ratio of 301.8%.

Clearway Energy Stock Up 2.9 %

Shares of Clearway Energy stock opened at $28.07 on Friday. The stock’s fifty day moving average is $26.14 and its 200-day moving average is $27.53. The firm has a market capitalization of $5.67 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The company had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Equities analysts anticipate that Clearway Energy will post 0.83 earnings per share for the current year.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CWEN. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Roth Mkm reaffirmed a “buy” rating and set a $34.00 target price (up from $33.00) on shares of Clearway Energy in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and a consensus price target of $34.17.

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.