Clearway Energy, Inc. (CWEN) to Issue Quarterly Dividend of $0.47 on September 15th

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 1st will be paid 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 6.0%. 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 raised its dividend annually for the last 2 consecutive years. Clearway Energy has a payout ratio of 172.7% meaning 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 $0.26 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 730.8%.

Clearway Energy Stock Performance

CWEN stock opened at $31.75 on Friday. 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 cap of $6.52 billion, a P/E ratio of 41.78 and a beta of 0.89. Clearway Energy has a 12-month low of $27.67 and a 12-month high of $41.74. The stock’s 50 day simple moving average is $33.42 and its 200 day simple moving average is $37.05.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. As a group, equities research analysts predict that Clearway Energy will post -0.5 EPS for the current year.

About Clearway Energy

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.