Clearway Energy, Inc. (NYSE:CWEN) Plans Dividend Increase – $0.48 Per Share

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Monday, November 9th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.4824 per share on Tuesday, December 15th. This represents a $1.93 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a 1.6% increase from Clearway Energy’s previous quarterly dividend of $0.4750.

Clearway Energy has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Clearway Energy has a dividend payout ratio of 172.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Clearway Energy to earn $0.60 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 316.7%.

Clearway Energy Stock Up 1.8%

CWEN opened at $34.71 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The company’s 50-day moving average is $31.18 and its 200 day moving average is $35.54. Clearway Energy has a fifty-two week low of $28.57 and a fifty-two week high of $41.74. The firm has a market capitalization of $7.13 billion, a P/E ratio of 45.67 and a beta of 0.81.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Monday, November 9th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.41). The firm had revenue of $522.00 million for the quarter, compared to the consensus estimate of $513.11 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Research analysts expect that Clearway Energy will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Clearway Energy

A number of institutional investors have recently modified their holdings of CWEN. Fortitude Family Office LLC raised its holdings in Clearway Energy by 590.5% during the 3rd quarter. Fortitude Family Office LLC now owns 1,160 shares of the company’s stock valued at $34,000 after acquiring an additional 992 shares during the period. Allied Private Wealth LLC bought a new position in shares of Clearway Energy in the second quarter worth $35,000. Covestor Ltd boosted its holdings in shares of Clearway Energy by 79.6% in the third quarter. Covestor Ltd now owns 1,345 shares of the company’s stock worth $39,000 after acquiring an additional 596 shares during the period. Salomon & Ludwin LLC grew its position in shares of Clearway Energy by 49.2% in the third quarter. Salomon & Ludwin LLC now owns 1,408 shares of the company’s stock valued at $41,000 after purchasing an additional 464 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Clearway Energy in the second quarter valued at $57,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

About Clearway Energy

Clearway Energy, Inc owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure.

The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions.

Clearway Energy was formerly known as NRG Yield, Inc and adopted its current name in 2018.