Clearway Energy (NYSE:CWEN) Releases Earnings Results, Misses Expectations By $0.17 EPS

Clearway Energy (NYSE:CWEN) released its earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17), Briefing.com reports. The business had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS.

Clearway Energy Stock Up 2.2 %

CWEN traded up $0.61 during trading on Thursday, hitting $28.38. The stock had a trading volume of 1,428,144 shares, compared to its average volume of 859,242. The stock has a 50 day simple moving average of $28.44 and a two-hundred day simple moving average of $26.87. The company has a market capitalization of $5.74 billion, a PE ratio of 43.23, a PEG ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. Clearway Energy has a twelve month low of $20.63 and a twelve month high of $30.92.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.98%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is presently 251.52%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. BNP Paribas assumed coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Finally, Roth Mkm reiterated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Company Profile

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.