Clearway Energy (NYSE:CWEN – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.25, Briefing.com reports. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The firm had revenue of $263.00 million during the quarter, compared to analyst estimates of $286.26 million. The company’s revenue was down 8.7% compared to the same quarter last year.
Clearway Energy Stock Up 1.2 %
Shares of CWEN traded up $0.32 during midday trading on Friday, hitting $26.81. The company had a trading volume of 509,091 shares, compared to its average volume of 910,746. The firm has a market capitalization of $5.42 billion, a P/E ratio of 38.94 and a beta of 0.86. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The company’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $23.77. Clearway Energy has a 1 year low of $18.59 and a 1 year high of $31.72.
Clearway Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.41 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 6.12%. The ex-dividend date is Monday, June 3rd. Clearway Energy’s dividend payout ratio is currently 236.76%.
Analysts Set New Price Targets
Get Our Latest Analysis on CWEN
Insiders Place Their Bets
In other Clearway Energy news, Director Se Totalenergies acquired 196,964 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now directly owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.
About Clearway Energy
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.
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