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) dividend on an annualized basis and a dividend yield of 5.8%. 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 raised its dividend payment by an average of 0.1%per year 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance
Shares of CWEN stock opened at $32.84 on Friday. The firm’s 50 day moving average is $35.24 and its 200-day moving average is $37.44. Clearway Energy has a 1 year low of $27.67 and a 1 year high of $41.74. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 43.21 and a beta of 0.89.
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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