Clearway Energy, Inc. (NYSE:CWEN) Increases Dividend to $0.43 Per Share

Clearway Energy, Inc. (NYSE:CWEN) declared a quarterly dividend on Monday, February 17th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42.

Clearway Energy has raised its dividend by an average of 7.6% per year over the last three years. Clearway Energy has a payout ratio of 236.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Clearway Energy to earn $0.57 per share next year, which means the company may not be able to cover its $1.70 annual dividend with an expected future payout ratio of 298.2%.

Clearway Energy Stock Up 1.2 %

Shares of NYSE:CWEN traded up $0.31 on Tuesday, reaching $26.44. The company had a trading volume of 885,345 shares, compared to its average volume of 728,253. Clearway Energy has a 52-week low of $20.63 and a 52-week high of $30.92. The firm’s 50 day simple moving average is $26.11 and its 200-day simple moving average is $27.59. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $5.34 billion, a PE ratio of 25.42, a PEG ratio of 1.70 and a beta of 0.88.

Insider Activity

In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction on Wednesday, December 11th. The shares were 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. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

CWEN has been the subject of several analyst reports. CIBC boosted their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average price target of $32.57.

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.