Clearway Energy, Inc. (NYSE:CWEN) Increases Dividend to $0.43 Per Share

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) declared a quarterly dividend on Monday, February 17th, Wall Street Journal reports. Shareholders 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 yield of 6.29%. The ex-dividend date is Monday, March 3rd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42.

Clearway Energy has raised its dividend payment by an average of 7.6% annually over the last three years. Clearway Energy has a dividend 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 research 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 Price Performance

Shares of NYSE:CWEN traded up $0.37 during midday trading on Friday, reaching $27.42. The company's stock had a trading volume of 1,228,193 shares, compared to its average volume of 757,119. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a market capitalization of $5.54 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.73 and a beta of 0.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The business's fifty day simple moving average is $26.05 and its 200-day simple moving average is $27.57.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Clearway Energy has a consensus rating of "Moderate Buy" and an average target price of $32.57.

Insider Buying and Selling

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm's stock in a transaction dated 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 trade represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by 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.