Clearway Energy, Inc. (NYSE:CWEN) Announces Quarterly Dividend of $0.43

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Monday, February 17th,Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.4312 per share on Monday, March 17th. This represents a $1.72 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42.

Clearway Energy has increased its dividend by an average of 7.6% annually over the last three years. Clearway Energy has a payout ratio of 236.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Clearway Energy to earn $0.57 per share next year, which means the company may not be able to cover its $1.70 annual dividend with an expected future payout ratio of 298.2%.

Clearway Energy Stock Performance

CWEN stock opened at $26.44 on Wednesday. The stock has a market capitalization of $5.34 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $27.58.

Analyst Upgrades and Downgrades

CWEN has been the topic of several analyst reports. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. CIBC upped their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.57.

Insider Activity

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

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.