Wall Street analysts expect Clearway Energy Inc (NYSE:CWEN) to report $218.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Clearway Energy’s earnings, with the lowest sales estimate coming in at $203.00 million and the highest estimate coming in at $232.99 million. Clearway Energy posted sales of $225.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Clearway Energy will report full-year sales of $1.15 billion for the current year, with estimates ranging from $1.09 billion to $1.21 billion. For the next financial year, analysts anticipate that the company will post sales of $1.19 billion, with estimates ranging from $1.11 billion to $1.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Clearway Energy.
Several brokerages have recently weighed in on CWEN. ValuEngine downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 30th. TheStreet downgraded shares of Clearway Energy from a “b-” rating to a “c” rating in a research report on Friday, December 7th. Macquarie downgraded shares of Clearway Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Zacks Investment Research downgraded shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, Guggenheim downgraded shares of Clearway Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.50.
Shares of NYSE:CWEN opened at $14.69 on Friday. The company has a market cap of $2.89 billion, a PE ratio of 31.93, a P/E/G ratio of 1.20 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 2.45. Clearway Energy has a twelve month low of $12.12 and a twelve month high of $20.75.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.80 annualized dividend and a dividend yield of 5.45%. Clearway Energy’s dividend payout ratio is presently 173.91%.
In other Clearway Energy news, insider Christopher S. Sotos bought 6,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $14.49 per share, with a total value of $94,185.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Chad Plotkin bought 2,700 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $14.79 per share, for a total transaction of $39,933.00. The disclosure for this purchase can be found here. Insiders bought a total of 152,062 shares of company stock worth $2,483,596 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $29,000. Csenge Advisory Group acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $32,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $107,000. Point72 Hong Kong Ltd acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $129,000. Finally, Berman Capital Advisors LLC acquired a new position in Clearway Energy in the 4th quarter valued at $122,000. 30.66% of the stock is currently owned by institutional investors and hedge funds.
About Clearway Energy
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).
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