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

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

Clearway Energy Stock Performance

Shares of CWEN traded down $0.28 during trading hours on Friday, hitting $27.68. The stock had a trading volume of 916,356 shares, compared to its average volume of 762,041. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.65. Clearway Energy has a 12 month low of $18.59 and a 12 month high of $28.71. The firm has a market capitalization of $5.60 billion, a PE ratio of 41.94 and a beta of 0.85. The stock has a fifty day moving average price of $26.10 and a 200 day moving average price of $24.47.

Clearway Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CWEN shares. StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Evercore ISI increased 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. Roth Mkm reiterated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research note on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.