Clearway Energy, Inc. (CWEN) to Issue Quarterly Dividend of $0.43 on March 17th

Clearway Energy, Inc. (NYSE:CWEN) announced a quarterly dividend on Monday, February 17th,Wall Street Journal reports. Stockholders of record on Monday, March 3rd will be given a dividend of 0.4312 per share on Monday, March 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date is Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42.

Clearway Energy has increased its dividend payment by an average of 7.6% annually over the last three years. Clearway Energy has a payout ratio of 236.1% meaning 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 $1.70 annual dividend with an expected future payout ratio of 298.2%.

Clearway Energy Trading Up 1.2 %

NYSE CWEN opened at $26.44 on Wednesday. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average of $26.08 and a 200-day moving average of $27.58. The firm has a market cap of $5.34 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CWEN shares. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. CIBC upped their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.57.

Insiders Place Their Bets

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Clearway Energy Company Profile

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.