Q3 2022 EPS Estimates for Clearway Energy, Inc. (NYSE:CWEN) Lowered by Analyst

Clearway Energy, Inc. (NYSE:CWENGet Rating) – Investment analysts at Oppenheimer reduced their Q3 2022 earnings estimates for shares of Clearway Energy in a note issued to investors on Tuesday, August 2nd. Oppenheimer analyst C. Rusch now forecasts that the company will earn ($0.20) per share for the quarter, down from their prior forecast of $0.50. The consensus estimate for Clearway Energy’s current full-year earnings is $0.82 per share. Oppenheimer also issued estimates for Clearway Energy’s Q4 2022 earnings at ($0.50) EPS and FY2023 earnings at $1.19 EPS.

A number of other research analysts also recently weighed in on the stock. StockNews.com raised shares of Clearway Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Clearway Energy from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, July 21st. TheStreet raised shares of Clearway Energy from a “c+” rating to a “b+” rating in a report on Tuesday. Roth Capital reaffirmed a “buy” rating on shares of Clearway Energy in a report on Friday, May 27th. Finally, CIBC began coverage on shares of Clearway Energy in a report on Thursday, June 9th. They issued a “neutral” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.40.

Clearway Energy Stock Down 1.7 %

Clearway Energy stock opened at $37.25 on Friday. Clearway Energy has a twelve month low of $29.61 and a twelve month high of $39.75. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $34.18. The company has a market capitalization of $7.53 billion, a P/E ratio of 7.89, a P/E/G ratio of 3.45 and a beta of 0.64. The company has a quick ratio of 0.87, a current ratio of 2.18 and a debt-to-equity ratio of 1.58.

Clearway Energy (NYSE:CWENGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $244.91 million. Clearway Energy had a net margin of 44.04% and a negative return on equity of 13.81%.

Hedge Funds Weigh In On Clearway Energy

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC bought a new position in Clearway Energy during the second quarter valued at $36,957,000. Beach Investment Counsel Inc. PA acquired a new stake in Clearway Energy in the 1st quarter worth approximately $7,715,000. ClearBridge Investments Ltd boosted its stake in Clearway Energy by 4.0% in the 1st quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock worth $77,619,000 after purchasing an additional 204,217 shares in the last quarter. HITE Hedge Asset Management LLC raised its position in Clearway Energy by 72.9% during the 1st quarter. HITE Hedge Asset Management LLC now owns 473,621 shares of the company’s stock worth $17,292,000 after buying an additional 199,700 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Clearway Energy during the 2nd quarter worth approximately $5,943,000. 34.38% of the stock is currently owned by institutional investors.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.36 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Wednesday, August 31st. Clearway Energy’s dividend payout ratio is currently 29.87%.

About Clearway Energy

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Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

See Also

Earnings History and Estimates for Clearway Energy (NYSE:CWEN)

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