CWEN
Clearway Energy, Inc. (NYSE:CWEN) owns and operates contracted renewable generation assets in the U.S. as well as conventional generation and thermal infrastructure assets. Shares continued to show strength following the announcement that TotalEnergies (TTE) and Global Infrastructure Partners are partnering to acquire 50% of Clearway, helping to provide a longer runway for growth projects. This was the analysis from ClearBridge Investments, an investment management company. Generally, utilities with clean energy portfolios contributed positively to institutional fund’s performance but fears of recession have had some material impact too.
A number of other brokerages have also commented on CWEN. The general consensus rating of CWEN is of Moderate Buy and an average price target of $37.40.
Clearway Energy has a 12 month low of $29.61 and a 12 month high of $39.75. The company has a quick ratio of 0.87, a current ratio of 2.18 and a debt-to-equity ratio of 1.58. The company’s fifty day simple moving average is $34.99 and its 200 day simple moving average is $34.18. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 3.45 and a beta of 0.64.
In terms of its quarterly earnings data released on Thursday, May 5th, the company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Clearway Energy had a negative return on equity of 13.81% and a net margin of 44.04%. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $244.91 million. As a group, research analysts forecast that Clearway Energy will post 0.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Wednesday, August 31st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. Clearway Energy’s dividend payout ratio (DPR) is 29.87%.