Q3 2022 EPS Estimates for Clearway Energy, Inc. (NYSE:CWEN) Lowered by Analyst

Clearway Energy, Inc. (NYSE:CWENGet Rating) – Investment analysts at Oppenheimer cut their Q3 2022 earnings per share (EPS) estimates for shares of Clearway Energy in a report issued on Tuesday, August 2nd. Oppenheimer analyst C. Rusch now expects that the company will post earnings of ($0.20) per share for the quarter, down from their prior estimate of $0.50. The consensus estimate for Clearway Energy’s current full-year earnings is $0.82 per share. Oppenheimer also issued estimates for Clearway Energy’s Q4 2022 earnings at ($0.50) EPS and FY2023 earnings at $1.19 EPS.

CWEN has been the subject of a number of other research reports. Roth Capital restated a “buy” rating on shares of Clearway Energy in a research report on Friday, May 27th. Morgan Stanley reduced their price objective on Clearway Energy from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, July 21st. StockNews.com upgraded Clearway Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. CIBC initiated coverage on Clearway Energy in a research report on Thursday, June 9th. They set a “neutral” rating and a $36.00 price objective for the company. Finally, Seaport Res Ptn restated a “buy” rating on shares of Clearway Energy in a research report on Friday, May 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.40.

Clearway Energy Trading Down 1.7 %

NYSE:CWEN opened at $37.25 on Friday. Clearway Energy has a 12-month low of $29.61 and a 12-month high of $39.75. The firm has a market capitalization of $7.53 billion, a P/E ratio of 7.89, a P/E/G ratio of 3.45 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.18 and a quick ratio of 0.87. The business has a 50 day simple moving average of $34.99 and a 200 day simple moving average of $34.18.

Clearway Energy (NYSE:CWENGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Clearway Energy had a net margin of 44.04% and a negative return on equity of 13.81%. The firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.91 million.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Wednesday, August 31st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.35. Clearway Energy’s payout ratio is 29.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CWEN. National Bank of Canada FI acquired a new stake in shares of Clearway Energy during the fourth quarter worth $39,000. Commonwealth Equity Services LLC acquired a new stake in shares of Clearway Energy during the fourth quarter worth $235,000. Dupont Capital Management Corp acquired a new stake in shares of Clearway Energy during the fourth quarter worth $558,000. Mercer Global Advisors Inc. ADV raised its position in shares of Clearway Energy by 10.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,195 shares of the company’s stock worth $656,000 after purchasing an additional 1,672 shares during the period. Finally, Wintrust Investments LLC acquired a new stake in shares of Clearway Energy during the fourth quarter worth $204,000. Institutional investors and hedge funds own 34.38% of the company’s stock.

About Clearway Energy

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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.

See Also

Earnings History and Estimates for Clearway Energy (NYSE:CWEN)

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