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

Clearway Energy (NYSE:CWEN) posted its quarterly earnings data 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. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period last year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis.

Clearway Energy Stock Performance

Shares of CWEN stock traded down $0.06 during mid-day trading on Friday, reaching $28.32. 205,980 shares of the company’s stock traded hands, compared to its average volume of 856,161. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.37 and a current ratio of 1.59. The firm has a market capitalization of $5.72 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.34 and a beta of 0.86. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The firm has a 50 day moving average price of $28.44 and a two-hundred day moving average price of $26.87.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is currently 160.58%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BNP Paribas began coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. CIBC lifted their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and an average 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.