Clearway Energy, Inc. (CWEN) To Go Ex-Dividend on March 2nd

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Tuesday, February 17th. Stockholders of record on Monday, March 2nd will be given a dividend of 0.4602 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.45.

Clearway Energy has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Clearway Energy has a payout ratio of 164.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Clearway Energy to earn $0.57 per share next year, which means the company may not be able to cover its $1.81 annual dividend with an expected future payout ratio of 317.5%.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $40.17 on Thursday. Clearway Energy has a 52 week low of $25.63 and a 52 week high of $41.51. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.54 and a beta of 0.95. The company has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $32.85. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.54.

Analyst Upgrades and Downgrades

CWEN has been the topic of several research reports. Roth Mkm upped their target price on Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Zacks Research cut Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, January 21st. Finally, UBS Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Clearway Energy in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.71.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.