Clearway Energy (NYSE:CWEN) Releases Earnings Results

Clearway Energy (NYSE:CWEN) announced its quarterly earnings data on Monday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10), Zacks reports. The firm 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%.

Clearway Energy Trading Up 2.3 %

Shares of Clearway Energy stock opened at $27.32 on Wednesday. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The stock has a market capitalization of $5.52 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. The company has a 50-day simple moving average of $26.07 and a 200 day simple moving average of $27.53. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.4312 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 165.38%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CWEN. StockNews.com cut 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 price objective (up from $33.00) on shares of Clearway Energy in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.86.

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.