Clearway Energy (CWEN) Declares $0.40 Dividend
Clearway Energy said on February 14, 2024 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.61 annualized). Previously, the company paid $0.40 per share.
Shares must be purchased before the ex-div date of February 29, 2024 to qualify for the dividend. Shareholders of record as of March 1, 2024 will receive the payment on March 15, 2024.
At the current share price of $23.67 / share, the stock's dividend yield is 6.82%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.27%, the lowest has been 3.81%, and the highest has been 10.50%. The standard deviation of yields is 1.81 (n=233).
The current dividend yield is 0.30 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 4.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.02%.
What is the Fund Sentiment?
There are 656 funds or institutions reporting positions in Clearway Energy. This is an increase of 27 owner(s) or 4.29% in the last quarter. Average portfolio weight of all funds dedicated to CWEN is 0.27%, an increase of 0.82%. Total shares owned by institutions increased in the last three months by 9.92% to 91,632K shares. 
The put/call ratio of CWEN is 0.53, indicating a bullish outlook.
Analyst Price Forecast Suggests 34.56% Upside
As of January 20, 2024, the average one-year price target for Clearway Energy is 31.85. The forecasts range from a low of 25.01 to a high of $38.44. The average price target represents an increase of 34.56% from its latest reported closing price of 23.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Clearway Energy is 1,383MM, an increase of 3.75%. The projected annual non-GAAP EPS is 0.91.
What are Other Shareholders Doing?
Bank of New York Mellon holds 3,342K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 3,395K shares, representing a decrease of 1.59%. The firm increased its portfolio allocation in CWEN by 17.71% over the last quarter.
Tortoise Capital Advisors, L.l.c. holds 3,051K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 2,908K shares, representing an increase of 4.68%. The firm increased its portfolio allocation in CWEN by 37.76% over the last quarter.
Neuberger Berman Group holds 2,676K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 2,712K shares, representing a decrease of 1.34%. The firm increased its portfolio allocation in CWEN by 22.41% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,371K shares representing 2.03% ownership of the company. In it's prior filing, the firm reported owning 2,376K shares, representing a decrease of 0.17%. The firm decreased its portfolio allocation in CWEN by 23.23% over the last quarter.
Kayne Anderson Capital Advisors holds 2,215K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 2,007K shares, representing an increase of 9.39%. The firm increased its portfolio allocation in CWEN by 12.01% over the last quarter.
Clearway Energy Background Information
(This description is provided by the company.)
Clearway is one of the largest developers and operators of clean energy in the United States with over 5.7 gigawatts of wind, solar, and energy storage in operation, including assets owned through their affiliate company, Clearway Energy, Inc.
Additional reading:
- Clearway Energy, Inc. Reports Third Quarter 2023 Financial Results
- T-1 Statement of Eligibility of Trustee on Form T-1 of Delaware Trust Company.
- Form of Indenture for Debt Securities of Clearway Energy, Inc. (including form of Debt Security).
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