Here's Why You Should Add Clearway Energy Stock to Your Portfolio Now
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Clearway Energy CWEN continues to benefit from its focus on North American operations and modern utility-scale clean renewable projects that ensure high fleet availability and low maintenance costs. Given its growth opportunities, CWEN makes for a solid investment option in the alternative energy industry.Let’s explore the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.CWEN’s Growth Projections & Surprise HistoryThe Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased 1.2% to 82 cents in the past 60 days.The Zacks Consensus Estimate for 2024 sales is pinned at $1.42 billion, indicating a year-over-year increase of 8.3%.CWEN’s long-term earnings (three-to-five-year) growth rate is 26.8%. The company delivered an average earnings surprise of 35.8% for the trailing four quarters.Debt Position of CWENCurrently, the company’s total debt to capital is 55.95%, much better than the industry’s average of 61.17%. A lower debt-to-capital ratio is often viewed more favorably, since there is less solvency risk.CWEN’s LiquidityThe company’s current ratio is 1.59, better than the industry’s average of 1.22. A current ratio greater than one indicates that the company has enough assets to liquidate to cover all short-term liabilities, if necessary.Dividend History of CWENThe company's consistent performance helps it continue with its shareholder-friendly moves. It has been paying out dividends consistently since 2015. The utility has been increasing dividends every year since the inception of the payment. In October 2024, CWEN increased its quarterly dividend by 1.7% to 42.4 cents per share from 41.71 cents in the previous quarter. This increase resulted in an annualized dividend of $1.696 per share. The current dividend yield is 6.59%, better than the Zacks S&P 500 composite’s 1.21%.CWEN’s Focus on Clean EnergyThe company owns and operates utility scale and distributed renewable energy and natural gas-fired generation, thermal and other infrastructure assets with proven technologies, low operating risks and stable cash flows. CWEN’s Victory Pass of solar and storage has nearly 649-megawatt capacity. It is a 12-15-year power purchase agreement with diverse investments. As of Sept. 30, 2024, the company’s origination of new power contracts totaled 3.6 gigawatts (GW). Contracted and awarded capacity came in at 1.3 GW. Additionally, CWEN now has over 5 GW of projects in active engagement with corporates and load-serving entities seeking carbon-free energy to power data centers across multiple markets.CWEN’s Stock Price PerformanceIn the past six months, the company’s shares have risen 0.8% against the industry’s decline of 10.1%. Image Source: Zacks Investment ResearchOther Stocks to ConsiderA few other top-ranked stocks from the same industry are Constellation Energy Corporation CEG, ReNew Energy Global RNW and Excelerate Energy EE, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.CEG’s long-term earnings growth rate is 17.27%. The Zacks Consensus Estimate for CEG’s 2024 EPS implies a year-over-year improvement of 65.9%.The Zacks Consensus Estimate for RNW’s fiscal 2025 EPS implies a year-over-year improvement of 25%. It delivered an average earnings surprise of 15.5% in the trailing four quarters.EE’s long-term earnings growth rate is 11.18%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year improvement of 10.8%. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Energy Corporation (CEG): Free Stock Analysis Report Excelerate Energy, Inc. (EE): Free Stock Analysis Report Clearway Energy, Inc. (CWEN): Free Stock Analysis Report ReNew Energy Global PLC (RNW): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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Quelle: Zacks
Nachrichten zu NOW Inc When Issued
Analysen zu NOW Inc When Issued
Datum | Rating | Analyst | |
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05.08.2019 | NOW Market Perform | Cowen and Company, LLC | |
03.08.2018 | NOW Buy | Stifel, Nicolaus & Co., Inc. | |
03.08.2018 | NOW Market Perform | Cowen and Company, LLC | |
03.05.2018 | NOW Market Perform | Cowen and Company, LLC | |
15.02.2018 | NOW Buy | Stifel, Nicolaus & Co., Inc. |
Datum | Rating | Analyst | |
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05.08.2019 | NOW Market Perform | Cowen and Company, LLC | |
03.08.2018 | NOW Market Perform | Cowen and Company, LLC | |
03.05.2018 | NOW Market Perform | Cowen and Company, LLC | |
15.02.2018 | NOW Market Perform | Cowen and Company, LLC | |
02.11.2017 | NOW Market Perform | Cowen and Company, LLC |
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