Clearway Energy (NYSE:CWEN) Announces Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Clearway Energy (NYSE:CWEN) posted its earnings results on Thursday. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23), Briefing.com reports. The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. Clearway Energy’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS.

Clearway Energy Price Performance

Shares of NYSE CWEN traded down $0.28 during trading on Friday, hitting $27.68. The company had a trading volume of 916,356 shares, compared to its average volume of 762,041. The company has a market cap of $5.60 billion, a P/E ratio of 41.94 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.65 and a current ratio of 1.46. The business’s 50-day moving average is $26.10 and its 200 day moving average is $24.47. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $28.71.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a $0.417 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.67 annualized dividend and a yield of 6.03%. Clearway Energy’s payout ratio is 248.49%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CWEN shares. Evercore ISI lifted their target price on Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a report on Friday. Finally, Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

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.