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Clearway Energy

NYSE:CWEN
Snowflake Description

Undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CWEN
NYSE
$3B
Imp Market Cap
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Last updated 2019/04/20 00:32
Company description

Clearway Energy, Inc., through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. The last earnings update was 51 days ago. More info.

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CWEN Share Price and Events
7 Day Returns
1.1%
NYSE:CWEN
-0.7%
US Renewable Energy
0.2%
US Market
1 Year Returns
-9.2%
NYSE:CWEN
19.8%
US Renewable Energy
6.3%
US Market
CWEN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clearway Energy (CWEN) 1.1% 8.4% 4.4% -9.2% 5.5% -
US Renewable Energy -0.7% 1.4% 9.9% 19.8% 31.2% 10.1%
US Market 0.2% 2.1% 8.5% 6.3% 37.9% 45.7%
1 Year Return vs Industry and Market
  • CWEN underperformed the Renewable Energy industry which returned 19.8% over the past year.
  • CWEN underperformed the Market in United States of America which returned 6.3% over the past year.
Price Volatility
CWEN
Industry
5yr Volatility vs Market

CWEN Value

 Is Clearway Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Clearway Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Clearway Energy.

NYSE:CWEN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CWEN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.44
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.444 (1 + (1- 21%) (197.1%)) 		1.091
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.091 * 5.96%) 		9.23%

Discounted Cash Flow Calculation for NYSE:CWEN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clearway Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:CWEN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.23%)
2019 648.20 Analyst x1 593.41
2020 713.40 Analyst x1 597.90
2021 766.97 Est @ 7.51% 588.47
2022 813.56 Est @ 6.08% 571.46
2023 854.83 Est @ 5.07% 549.69
2024 892.18 Est @ 4.37% 525.22
2025 926.77 Est @ 3.88% 499.47
2026 959.51 Est @ 3.53% 473.41
2027 991.10 Est @ 3.29% 447.66
2028 1,022.06 Est @ 3.12% 422.62
Present value of next 10 years cash flows $5,269.30
NYSE:CWEN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,022.06 × (1 + 2.73%) ÷ (9.23% – 2.73%) 		$16,146.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $16,146.88 ÷ (1 + 9.23%)10 		$6,676.78
NYSE:CWEN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $5,269.30 + $6,676.78 		$11,946.08
Equity Value per Share
(USD)		 = Total value / Shares Outstanding
= $11,946.08 / 193.40 		$61.77
NYSE:CWEN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NYSE:CWEN represents 1.04433x of NYSE:CWEN.A
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		1.04433x
Value per Share
(Listing Adjusted, USD)		 = Value per Share (USD) x Listing Adjustment Factor
= $ 61.77 x 1.04433 		$64.51
Value per share (USD) From above. $64.51
Current discount Discount to share price of $16.02
= -1 x ($16.02 - $64.51) / $64.51 		75.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Clearway Energy is available for.
Intrinsic value
>50%
Share price is $16.02 vs Future cash flow value of $64.51
Current Discount Checks
For Clearway Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clearway Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clearway Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Clearway Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clearway Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CWEN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.46
NYSE:CWEN.A Share Price ** NYSE (2019-04-18) in USD $15.34
United States of America Renewable Energy Industry PE Ratio Median Figure of 9 Publicly-Listed Renewable Energy Companies 33.24x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Clearway Energy.

NYSE:CWEN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CWEN.A Share Price ÷ EPS (both in USD)

= 15.34 ÷ 0.46

 33.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clearway Energy is good value based on earnings compared to the US Renewable Energy industry average.
  • Clearway Energy is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Clearway Energy's expected growth come at a high price?
Raw Data
NYSE:CWEN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts		 39.6%per year
United States of America Renewable Energy Industry PEG Ratio Median Figure of 7 Publicly-Listed Renewable Energy Companies 1.71x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:CWEN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.24x ÷ 39.6%

 0.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clearway Energy is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Clearway Energy's assets?
Raw Data
NYSE:CWEN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.91
NYSE:CWEN.A Share Price * NYSE (2019-04-18) in USD $15.34
United States of America Renewable Energy Industry PB Ratio Median Figure of 15 Publicly-Listed Renewable Energy Companies 1.37x
United States of America Market PB Ratio Median Figure of 5,178 Publicly-Listed Companies 1.91x
NYSE:CWEN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CWEN.A Share Price ÷ Book Value per Share (both in USD)

= 15.34 ÷ 16.91

 0.91x

* Primary Listing of Clearway Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clearway Energy is good value based on assets compared to the US Renewable Energy industry average.
Show me more potentially undervalued companies in the Renewable Energy industry
X
Value checks
We assess Clearway Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check)
    5. Clearway Energy has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CWEN Future Performance

 How is Clearway Energy expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
39.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clearway Energy expected to grow at an attractive rate?
  • Clearway Energy's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Clearway Energy's earnings growth is expected to exceed the United States of America market average.
  • Clearway Energy's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CWEN Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CWEN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 39.6%
NYSE:CWEN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 6.8%
United States of America Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 17.2%
United States of America Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 2.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CWEN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CWEN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,542 829 1
2021-12-31 1,248 810 219 4
2020-12-31 1,216 743 156 8
2019-12-31 1,133 632 125 7
NYSE:CWEN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,053 498 48
2018-09-30 1,055 539 46
2018-06-30 1,032 528 54
2018-03-31 1,013 517 3
2017-12-31 1,009 517 -16
2017-09-30 1,024 507 41
2017-06-30 1,027 528 45
2017-03-31 1,022 552 49
2016-12-31 1,035 577 57
2016-09-30 1,013 538 81
2016-06-30 997 530 65
2016-03-31 987 419 43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clearway Energy's earnings are expected to grow significantly at over 20% yearly.
  • Clearway Energy's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CWEN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Clearway Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CWEN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 1.25 1.30 1.19 2.00
2020-12-31 1.20 1.43 0.94 3.00
2019-12-31 1.23 1.55 0.83 4.00
NYSE:CWEN Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.46
2018-09-30 0.45
2018-06-30 0.54
2018-03-31 0.03
2017-12-31 -0.16
2017-09-30 0.42
2017-06-30 0.46
2017-03-31 0.50
2016-12-31 0.58
2016-09-30 0.82
2016-06-30 0.66
2016-03-31 0.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Clearway Energy is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Show me more growth companies in the Renewable Energy industry
X
Future performance checks
We assess Clearway Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Clearway Energy has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CWEN Past Performance

  How has Clearway Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Clearway Energy's growth in the last year to its industry (Renewable Energy).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Clearway Energy's year on year earnings growth rate has been positive over the past 5 years.
  • Clearway Energy has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Clearway Energy has become profitable in the last year making it difficult to compare the North America Renewable Energy industry average.
Earnings and Revenue History
Clearway Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Clearway Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CWEN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,053.00 48.00 20.00 3.00
2018-09-30 1,055.00 46.00 22.00 1.00
2018-06-30 1,032.00 54.00 20.00
2018-03-31 1,013.00 3.00 20.00
2017-12-31 1,009.00 -16.00 19.00
2017-09-30 1,024.00 41.00 20.00
2017-06-30 1,027.00 45.00 20.00
2017-03-31 1,022.00 49.00 17.00
2016-12-31 1,035.00 57.00 16.00
2016-09-30 1,013.00 81.00 13.00
2016-06-30 997.00 65.00 12.00
2016-03-31 987.00 43.00 12.00
2015-12-31 968.00 33.00 12.00
2015-09-30 978.00 22.00 10.00
2015-06-30 906.00 11.00 10.00
2015-03-31 806.00 9.00 9.00
2014-12-31 828.00 16.00 8.00
2014-09-30 615.00 20.00 9.00
2014-06-30 557.00 23.00 7.00
2014-03-31 466.00 4.00 7.00
2013-12-31 387.00 13.00 7.00
2013-09-30 303.00 14.00 6.00
2013-06-30 224.00 9.00 7.00
2013-03-31 184.00 15.00 13.00
2012-12-31 175.00 12.00 7.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Clearway Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Clearway Energy used its assets more efficiently than the US Renewable Energy industry average last year based on Return on Assets.
  • Clearway Energy has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Clearway Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Clearway Energy has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CWEN Health

 How is Clearway Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Clearway Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clearway Energy is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clearway Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Clearway Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Clearway Energy Company Filings, last reported 3 months ago.

NYSE:CWEN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,224.00 6,003.00 410.00
2018-09-30 2,375.00 5,814.00 235.00
2018-06-30 2,287.00 5,912.00 131.00
2018-03-31 2,126.00 5,983.00 174.00
2017-12-31 2,159.00 6,046.00 148.00
2017-09-30 2,299.00 5,884.00 179.00
2017-06-30 2,336.00 5,973.00 181.00
2017-03-31 2,338.00 6,024.00 213.00
2016-12-31 2,599.00 6,127.00 322.00
2016-09-30 2,468.00 5,778.00 200.00
2016-06-30 2,557.00 4,875.00 89.00
2016-03-31 2,561.00 4,909.00 76.00
2015-12-31 2,738.00 5,698.00 111.00
2015-09-30 2,152.00 4,622.00 125.00
2015-06-30 2,206.00 4,827.00 281.00
2015-03-31 1,341.00 5,079.00 114.00
2014-12-31 2,625.00 5,047.00 429.00
2014-09-30 1,614.00 4,135.00 372.00
2014-06-30 1,073.00 2,051.00 87.00
2014-03-31 1,031.00 1,421.00 420.00
2013-12-31 1,252.00 1,828.00 59.00
2013-09-30 991.00 1,214.00 121.00
2013-06-30 697.00 1,249.00 17.00
2013-03-31 590.00 1,222.00 23.00
2012-12-31 840.00 885.00 22.00
  • Clearway Energy's level of debt (269.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (145.9% vs 269.9% today).
  • Debt is not well covered by operating cash flow (8.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Clearway Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Clearway Energy has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CWEN Dividends

 What is Clearway Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.22%
Current annual income from Clearway Energy dividends. Estimated to be 5.33% next year.
If you bought $2,000 of Clearway Energy shares you are expected to receive $104 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Clearway Energy's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Clearway Energy's dividend is above the markets top 25% of dividend payers in United States of America (3.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CWEN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CWEN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.85 3.00
2020-12-31 0.82 6.00
2019-12-31 0.80 7.00
NYSE:CWEN Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.800 5.534
2018-11-06 1.324 8.126
2018-08-02 1.280 6.563
2018-05-03 1.236 7.039
2018-02-15 1.192 7.168
2017-11-02 1.152 6.207
2017-08-03 1.120 6.066
2017-05-02 1.080 6.259
2017-02-15 1.040 6.173
2016-11-04 1.000 6.463
2016-08-09 0.960 6.024
2016-05-05 0.920 6.024
2016-02-17 0.900 6.713
2015-11-04 0.860 6.728
2015-08-04 0.840 5.852
2015-05-08 0.800 3.526
2015-02-17 0.780 3.046
2014-11-05 0.750 3.060
2014-08-07 0.730 2.951
2014-05-06 0.700 2.839
2014-01-30 0.660 3.343
2013-11-05 0.600 3.203

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Clearway Energy has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Clearway Energy only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Clearway Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Clearway Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Clearway Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Clearway Energy has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CWEN Management

 What is the CEO of Clearway Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Sotos
COMPENSATION $2,398,180
AGE 47
TENURE AS CEO 2.9 years
CEO Bio

Mr. Christopher S. Sotos, also known as Chris, has been the Chief Executive Officer and President at NRG Yield, Inc. and at NRG Energy, Inc. since May 6, 2016. Mr. Sotos served as the Senior Vice President of Strategy and Mergers & Acquisitions at NRG Energy, Inc. since November 2012 through February 2016, Executive Vice President—Strategy and Mergers and Acquisitions from February 2016 through May 2016. Mr. Sotos served as Senior Vice President and Treasurer of NRG Energy, Inc. from March 2008 to September 2012. In this role, he was responsible for all treasury functions, including raising capital, valuation, debt administration and cash management. He served as Vice President of NRG Energy, Inc. since March 2008. At NRG Energy, Inc., he was responsible for all Treasury functions performed by that group. He joined NRG in 2004 as Senior Finance Analyst, following over 9 years in key financial roles within the energy sector and other industries for such Houston-based companies as Koch Capital Markets, Entergy Wholesale Operations and Service Corporation International. He has been a Director of FuelCell Energy Inc. since September 29, 2014. He is responsible for the development, execution and implementation of NRG's business strategy across all platforms, leading the FuelCell Energy's efforts in acquisitions across all generation types, retail and wholesale business models, as well as smaller venture capital investments and strategic relationships. Mr. Sotos has been a Director of NRG Yield, Inc. since May 2013. Mr. Sotos holds a Bachelor of Science degree in Finance and a Bachelor of Arts degree in Economics from Indiana University, Bloomington, IN.

CEO Compensation
  • Chris's compensation has been consistent with company performance over the past year.
  • Chris's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Clearway Energy management team in years:

2.7
Average Tenure
45.5
Average Age
  • The tenure for the Clearway Energy management team is about average.
Management Team

Chris Sotos

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
2.9 yrs

Chad Plotkin

TITLE
Senior VP & CFO
COMPENSATION
$942K
AGE
43
TENURE
2.4 yrs

Mary-Lee Stillwell

TITLE
VP & Chief Accounting Officer
COMPENSATION
$865K
AGE
44
TENURE
0.7 yrs

Kevin Malcarney

TITLE
Senior VP
COMPENSATION
$968K
AGE
51
TENURE
1.1 yrs

Kevin Cole

TITLE
Senior Vice President of Investor Relations
TENURE
3.3 yrs

Clive Nickolay

TITLE
Head of Thermal Operations
TENURE
3.3 yrs

Lindsey Puchyr

TITLE
Director of Investor Relations
Board of Directors Tenure

Average tenure and age of the Clearway Energy board of directors in years:

0.7
Average Tenure
61
Average Age
  • The average tenure for the Clearway Energy board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jon Bram

TITLE
Chairman of the Board
TENURE
0.7 yrs

Chris Sotos

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
5.9 yrs

Ferrell McClean

TITLE
Director
COMPENSATION
$326K
AGE
72
TENURE
5.8 yrs

Brian Ford

TITLE
Lead Independent Director
COMPENSATION
$305K
AGE
69
TENURE
0.3 yrs

Roderick MacLennan

TITLE
Director
AGE
51
TENURE
0.7 yrs

E. O'Neal

TITLE
Director
AGE
66
TENURE
0.7 yrs

Scott Stanley

TITLE
Director
AGE
61
TENURE
0.7 yrs

Nathaniel Anschuetz

TITLE
Director
AGE
30
TENURE
0.7 yrs

Daniel More

TITLE
Independent Director
AGE
61
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Clearway Energy insiders in the past 3 months.
Show me more companies with insider buying in the Renewable Energy industry
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
05. Mar 19 Buy Kevin Malcarney Individual 04. Mar 19 04. Mar 19 10,250 $14.58 $149,445
09. Nov 18 Buy Clearway Energy Group LLC Company 07. Nov 18 08. Nov 18 59,727 $19.79 $1,179,322
11. May 18 Sell John Chlebowski Individual 10. May 18 10. May 18 -15,417 $17.90 $-275,758
X
Management checks
We assess Clearway Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Clearway Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CWEN News

Simply Wall St News

CWEN Company Info

Description

Clearway Energy, Inc., through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems. The company also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,385 net MW thermal equivalents; and electric generation capacity of 133 net MWs. Its thermal infrastructure assets provide steam, hot water and/or chilled water, and electricity to commercial businesses, universities, hospitals, and governmental units. The company was founded in 2012 and is based in Princeton, New Jersey. Clearway Energy, Inc. is a subsidiary of Clearway Energy Group LLC.

Details
Name: Clearway Energy, Inc.
CWEN
Exchange: NYSE
Founded: 2012
$3,045,724,125
$1,705,436,925
193,402,886
Website: http://investor.clearwayenergy.com
Address: Clearway Energy, Inc.
300 Carnegie Center,
Suite 300,
Princeton,
New Jersey, 08540,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CWEN.A Class A Common Stock New York Stock Exchange US USD 17. Jul 2013
DB NY4B Class A Common Stock Deutsche Boerse AG DE EUR 17. Jul 2013
NYSE CWEN Class C Common Stock New York Stock Exchange US USD 15. May 2015
DB NY41 Class C Common Stock Deutsche Boerse AG DE EUR 15. May 2015
Number of employees
Current staff
Staff numbers
269
Clearway Energy employees.
Industry
Independent Power Producers and Energy Traders
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 00:32
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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