Clearway Energy, Inc. (CWEN) To Go Ex-Dividend on September 1st

Clearway Energy, Inc. (NYSE:CWENGet 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 (NYSE:CWENGet Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.24 by $0.76. The company had revenue of $481.00 million during the quarter, compared to analysts’ expectations of $480.80 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Sell-side analysts forecast that Clearway Energy will post -1.03 EPS for the current fiscal year.

Clearway Energy Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Clearway Energy (NYSE:CWEN)

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