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

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

Clearway Energy Trading Up 1.8 %

Clearway Energy stock traded up $0.49 during mid-day trading on Friday, hitting $26.98. 759,781 shares of the stock were exchanged, compared to its average volume of 913,069. The stock 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 12 month low of $18.59 and a 12 month high of $31.72. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. The firm’s fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $23.77.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.41 dividend. 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. This represents a $1.64 annualized dividend and a yield of 6.08%. Clearway Energy’s dividend payout ratio is presently 236.76%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Royal Bank of Canada reduced their price target on shares of 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 increased their price objective on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley boosted their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Clearway Energy currently has an average rating of “Hold” and a consensus target price of $28.33.

Insider Activity

In other Clearway Energy news, Director Se Totalenergies bought 196,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

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.