Clearway Energy (NYSE:CWEN) Announces Earnings Results, Beats Expectations By $0.25 EPS

Clearway Energy (NYSE:CWEN) released its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.25, Briefing.com reports. The company had revenue of $263.00 million during the quarter, compared to the consensus estimate of $286.26 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The company’s revenue was down 8.7% compared to the same quarter last year.

Clearway Energy Price Performance

NYSE CWEN traded up $0.47 during trading on Friday, hitting $26.96. 662,156 shares of the stock traded hands, compared to its average volume of 912,469. The company has a market capitalization of $5.45 billion, a P/E ratio of 38.94 and a beta of 0.86. Clearway Energy has a 12-month low of $18.59 and a 12-month high of $31.72. The firm has a 50-day simple moving average of $22.79 and a 200-day simple moving average of $23.77. 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Monday, June 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio (DPR) is currently 236.76%.

Insider Activity

In related news, Director Se Totalenergies acquired 196,964 shares of the stock in a transaction dated Thursday, March 28th. The stock was acquired at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the purchase, the director now directly owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CWEN shares. Royal Bank of Canada reduced their price target on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 27th. Oppenheimer boosted 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. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Morgan Stanley boosted their target price on Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.33.

About Clearway Energy

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.