Clearway Energy (NYSE:CWEN) Announces Earnings Results, Misses Estimates By $0.68 EPS

Clearway Energy (NYSE:CWEN) released its earnings results on Monday. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.68), FiscalAI reports. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $334.42 million. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%.

Clearway Energy Price Performance

Shares of CWEN stock traded up $0.39 on Monday, reaching $40.00. The company’s stock had a trading volume of 887,486 shares, compared to its average volume of 1,112,076. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. The stock’s fifty day simple moving average is $35.56 and its 200-day simple moving average is $32.97. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. Clearway Energy has a 1 year low of $25.63 and a 1 year high of $41.51.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.4602 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.6%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is currently 77.35%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several analyst reports. Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $37.00 to $38.00 in a report on Tuesday, December 16th. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Roth Mkm increased their target price on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.71.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its stake in Clearway Energy by 156.2% during the fourth quarter. Corient Private Wealth LLC now owns 39,534 shares of the company’s stock worth $1,315,000 after acquiring an additional 24,104 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Clearway Energy by 4,447.5% in the fourth quarter. NewEdge Advisors LLC now owns 12,824 shares of the company’s stock valued at $427,000 after acquiring an additional 12,542 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Clearway Energy in the fourth quarter valued at $21,906,000. Susquehanna Portfolio Strategies LLC boosted its stake in shares of Clearway Energy by 17.9% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 155,297 shares of the company’s stock worth $5,165,000 after purchasing an additional 23,625 shares during the period. Finally, Guggenheim Capital LLC raised its position in Clearway Energy by 19.8% in the 4th quarter. Guggenheim Capital LLC now owns 196,788 shares of the company’s stock worth $6,545,000 after purchasing an additional 32,571 shares during the period. Institutional investors own 84.53% of the company’s stock.

About Clearway Energy

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.