Clearway Energy (NYSE:CWEN) Issues Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Clearway Energy (NYSE:CWEN) announced its quarterly earnings data on Thursday. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.25, Briefing.com reports. The business had revenue of $263.00 million for the quarter, compared to analyst estimates of $286.26 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The business’s quarterly revenue was down 8.7% on a year-over-year basis.

Clearway Energy Price Performance

Shares of Clearway Energy stock traded up $0.49 during trading on Friday, reaching $26.98. 759,781 shares of the stock traded hands, compared to its average volume of 913,069. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.72 and a quick ratio of 1.66. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 38.94 and a beta of 0.86. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $31.72. The business has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $23.77.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 6.08%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, June 3rd. Clearway Energy’s dividend payout ratio is presently 236.76%.

Insider Activity

In related news, Director Se Totalenergies purchased 196,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $22.86 per share, for a total transaction of $4,502,597.04. Following the acquisition, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

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