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

Clearway Energy (NYSE:CWEN) announced its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17), Briefing.com reports. The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm’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 earnings per share.

Clearway Energy Trading Up 2.2 %

Shares of NYSE:CWEN traded up $0.61 during trading on Thursday, hitting $28.38. The company had a trading volume of 1,428,144 shares, compared to its average volume of 859,242. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The company has a fifty day simple moving average of $28.44 and a two-hundred day simple moving average of $26.87. Clearway Energy has a one year low of $20.63 and a one year high of $30.92.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 5.98%. The ex-dividend date is Monday, December 2nd. Clearway Energy’s payout ratio is presently 251.52%.

Analyst Ratings Changes

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

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.