Clearway Energy (CWEN) Scheduled to Post Quarterly Earnings on Thursday

Clearway Energy (NYSE:CWEN) is set to post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Clearway Energy to post earnings of ($0.27) per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Clearway Energy’s quarterly revenue was down 18.4% on a year-over-year basis. On average, analysts expect Clearway Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Clearway Energy Price Performance

NYSE CWEN opened at $24.74 on Tuesday. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $31.72. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 36.38 and a beta of 0.86. The company has a 50-day moving average price of $22.59 and a two-hundred day moving average price of $23.72.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.403 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 29th. This represents a $1.61 annualized dividend and a yield of 6.52%. Clearway Energy’s dividend payout ratio is 236.76%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Clearway Energy news, Director Se Totalenergies bought 196,964 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares in the company, valued at $6,749,072.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.55% 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.