Clearway Energy, Inc. (NYSE:CWEN) to Issue Quarterly Dividend of $0.47

Key Points

• Clearway Energy declared a quarterly dividend of $0.475 per share, up 1.6% from $0.47, with a 6.1% annualized yield. Investors of record on September 1 will receive payment on September 15.
• The dividend may be difficult to sustain from earnings alone: the payout ratio is 170%, and analysts expect a future payout ratio of approximately 283% based on projected earnings.
• Clearway reported quarterly EPS of $1.00, substantially exceeding the $0.24 analyst consensus, while revenue of $481 million also topped expectations. Despite the earnings beat, shares opened down 1.9% at $31.12.

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 1st will be given a dividend of 0.475 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 1st. This is a 1.6% increase from Clearway Energy's previous quarterly dividend of $0.47.

Clearway Energy has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. Clearway Energy has a dividend payout ratio of 170.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Clearway Energy to earn $0.66 per share next year, which means the company may not be able to cover its $1.87 annual dividend with an expected future payout ratio of 283.3%.

Clearway Energy Trading Down 1.9%

Shares of CWEN opened at $31.12 on Thursday. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.74. The company has a market capitalization of $6.39 billion, a P/E ratio of 778.12 and a beta of 0.89. 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 firm's 50 day simple moving average is $35.40 and its 200 day simple moving average is $37.46.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to analysts' expectations of $473.92 million. Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. Sell-side analysts forecast that Clearway Energy will post -1.03 earnings per share for the current fiscal year.

Clearway Energy Company Profile

Clearway Energy Group NYSE: CWEN is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company's portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway's generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.

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