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

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

Clearway Energy Stock Performance

Shares of NYSE:CWEN traded up $0.47 on Friday, reaching $26.96. 662,156 shares of the company’s stock were exchanged, compared to its average volume of 912,469. The business’s 50-day moving average is $22.79 and its two-hundred day moving average is $23.77. 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 has a fifty-two week low of $18.59 and a fifty-two week high of $31.72. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 38.94 and a beta of 0.86.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.41 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, June 3rd. This represents a $1.64 annualized dividend and a yield of 6.08%. Clearway Energy’s payout ratio is presently 236.76%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Oppenheimer increased their price target on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, January 19th. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Morgan Stanley upped their price target on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada decreased their price objective on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy presently has an average rating of “Hold” and an average price target of $28.33.

Insider Activity

In related news, Director Se Totalenergies purchased 196,964 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were acquired at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the transaction, the director now owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

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.