Clearway Energy (NYSE:CWEN) Posts Earnings Results, Misses Expectations By $0.17 EPS

Clearway Energy (NYSE:CWEN) released its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17), Briefing.com reports. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis.

Clearway Energy Price Performance

Shares of NYSE CWEN traded up $0.61 during midday trading on Thursday, reaching $28.38. 1,426,637 shares of the company were exchanged, compared to its average volume of 859,235. The stock’s 50-day moving average price is $28.44 and its 200-day moving average price is $26.87. The stock has a market cap of $5.74 billion, a P/E ratio of 43.23, a PEG ratio of 2.19 and a beta of 0.86. Clearway Energy has a one year low of $20.63 and a one year high of $30.92. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is presently 251.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Roth Mkm restated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and an average price target of $33.13.

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.