Clearway Energy, Inc. (NYSE:CWEN) Announces Dividend Increase - $0.45 Per Share

Key Points

• Clearway Energy, Inc. has raised its quarterly dividend to $0.45 per share, reflecting a 1.6% increase from its previous dividend of $0.44.
• The company currently has a payout ratio of 159.1%, indicating it is relying on its balance sheet to cover dividend payments, as expected earnings may not cover the future dividend obligations.
• In its latest earnings report, Clearway Energy reported $0.28 EPS, missing estimates, with revenues of $392 million compared to the expected $428.33 million.

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Investors of record on Tuesday, September 2nd will be given a dividend of 0.4456 per share on Tuesday, September 16th. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, September 2nd. This is a 1.6% increase from Clearway Energy's previous quarterly dividend of $0.44.

Clearway Energy has a payout ratio of 159.1% indicating that 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 $0.57 per share next year, which means the company may not be able to cover its $1.75 annual dividend with an expected future payout ratio of 307.0%.

Clearway Energy Stock Down 0.6%

Clearway Energy stock traded down $0.18 during midday trading on Friday, hitting $30.20. The stock had a trading volume of 777,454 shares, compared to its average volume of 865,157. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The stock has a market cap of $6.11 billion, a P/E ratio of 46.45, a P/E/G ratio of 1.03 and a beta of 0.87. Clearway Energy has a 12 month low of $24.40 and a 12 month high of $33.22. The business has a fifty day moving average price of $31.73 and a 200 day moving average price of $29.54.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.39). The firm had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Research analysts predict that Clearway Energy will post 0.83 EPS for the current year.

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.