Clearway Energy (NYSE:CWEN) Issues Quarterly Earnings Results

Clearway Energy (NYSE:CWENGet Rating) issued its quarterly earnings data on Thursday. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16), reports. Clearway Energy had a return on equity of 2.75% and a net margin of 3.97%. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $244.91 million.

Shares of NYSE CWEN traded down $0.50 during midday trading on Friday, hitting $31.65. 891,142 shares of the stock traded hands, compared to its average volume of 944,784. The company has a market cap of $6.39 billion, a PE ratio of 243.46, a P/E/G ratio of 5.57 and a beta of 0.68. Clearway Energy has a one year low of $24.93 and a one year high of $39.75. The business has a 50 day moving average price of $34.60 and a two-hundred day moving average price of $34.77. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.92 and a current ratio of 0.94.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.354 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. The ex-dividend date is Tuesday, May 31st. This represents a $1.42 annualized dividend and a dividend yield of 4.47%. Clearway Energy’s payout ratio is currently 1,069.23%.

A number of institutional investors have recently made changes to their positions in CWEN. Cohen & Steers Inc. grew its stake in Clearway Energy by 198.4% in the 3rd quarter. Cohen & Steers Inc. now owns 1,822,057 shares of the company’s stock valued at $55,154,000 after purchasing an additional 1,211,498 shares during the period. Beach Investment Counsel Inc. PA purchased a new position in Clearway Energy during the first quarter valued at approximately $7,715,000. First Trust Advisors LP grew its stake in Clearway Energy by 20.8% during the fourth quarter. First Trust Advisors LP now owns 788,800 shares of the company’s stock valued at $28,420,000 after acquiring an additional 136,015 shares in the last quarter. Arosa Capital Management LP purchased a new position in Clearway Energy during the third quarter valued at approximately $3,027,000. Finally, Schroder Investment Management Group purchased a new position in Clearway Energy during the third quarter valued at approximately $2,859,000. Institutional investors and hedge funds own 34.38% of the company’s stock.

A number of analysts have recently commented on CWEN shares. Zacks Investment Research lowered Clearway Energy from a “hold” rating to a “strong sell” rating and set a $28.00 price target on the stock. in a research note on Wednesday, January 19th. StockNews.com started coverage on Clearway Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.20.

About Clearway Energy (Get Rating)

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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Earnings History for Clearway Energy (NYSE:CWEN)

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