Clearway Energy (CWEN) Scheduled to Post Earnings on Thursday

Clearway Energy (NYSE:CWEN) will be issuing its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The company had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $282.45 million. During the same period in the prior year, the company earned $0.10 EPS. Clearway Energy’s revenue was down 18.4% compared to the same quarter last year. On average, analysts expect Clearway Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clearway Energy Price Performance

Shares of CWEN opened at $24.79 on Wednesday. Clearway Energy has a 12-month low of $18.59 and a 12-month high of $31.72. The business has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $23.74. The stock has a market cap of $5.01 billion, a PE ratio of 36.46 and a beta of 0.86. 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 was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.403 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.61 annualized dividend and a yield of 6.50%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s payout ratio is 236.76%.

Insider Buying and Selling at Clearway Energy

In related news, Director Se Totalenergies bought 196,964 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the purchase, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CWEN shares. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Morgan Stanley lifted their price objective on Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Royal Bank of Canada decreased 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. Finally, Oppenheimer raised their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.