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CWEN

Clearway Energy

$13.39

-1.28 (-8.73%)

06:39
02/14/19
02/14
06:39
02/14/19
06:39

Clearway Energy reduces quarterly dividend to 20c per share from 33.1c per share

Clearway Energy declared a quarterly dividend on Class A and Class C common stock of 20c per share payable on March 15 to stockholders of record as of March 1. This dividend is reduced from the last quarterly dividend paid in December 2018 of 33.1c per share due to impacts resulting from PG&E's bankruptcy. The PG&E bankruptcy filing has triggered defaults under the power purchase agreements with PG&E and related project level financing agreements. Because the company will exercise the Carlsbad backstop with GIP, the Company is revising its 2019 CAFD guidance to $270M from $295M. This financial guidance reflects no additional corporate level financing and assumes that all CAFD related to the projects impacted by the PG&E bankruptcy is realized in 2019. The company is currently not pursuing acquisition of remaining interest in Agua Caliente from NRG Energy.

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  • 04

    Mar

CWEN Clearway Energy
$13.39

-1.28 (-8.73%)

01/07/19
GUGG
01/07/19
DOWNGRADE
GUGG
Neutral
Clearway Energy downgraded to Neutral at Guggenheim
As previously reported, Guggenheim downgraded Clearway Energy to Neutral from Buy and cut its price target to $17 from $22. Analyst Shahriar Pourreza expects Clearway shares to work but said it will take time as more comfort is gained with the sponsor, contract quality, and pipeline opportunities.
02/13/19
GUGG
02/13/19
DOWNGRADE
GUGG
Sell
Clearway Energy downgraded to Sell from Neutral at Guggenheim
02/13/19
02/13/19
DOWNGRADE
Target $11

Sell
Clearway Energy downgraded to Sell at Guggenheim on likely dividend cut
As previously reported, Guggenheim analyst Shahriar Pourreza downgraded Clearway Energy to Sell from Neutral and lowered his price target to $11 from $17. The analyst expects the company to announce a dividend cut in the next few days after his discussions with key stakeholders and the management, adding that "at a minimum", the company's cash may be "locked up at the project level for a pronounced period of time". Pourreza also lowers his forecast for Clearway Energy 2019 EBITDA to $818.6M from $1.07B.
02/13/19
02/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) downgraded to Neutral from Buy at BofA/Merrill with analyst Ross Gilardi saying he views risk/reward as more balanced heading into Friday's Q1 report following recent share outperformance. 2. Consolidated Edison (ED) downgraded to Underperform from In Line at Evercore ISI. 3. Clearway Energy (CWEN) downgraded to Sell from Neutral at Guggenheim with analyst Shahriar Pourreza saying he expects the company to announce a dividend cut in the next few days after his discussions with key stakeholders and the management, adding that "at a minimum," the company's cash may be "locked up at the project level for a pronounced period of time." 4. Huntsman (HUN) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying the company has its work cut out to reach its own adjusted EBITDA forecasts for 2019. 5. Aquantia (AQ) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GDP

Goodrich Petroleum

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NYMT

New York Mortgage

$6.25

-0.03 (-0.48%)

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CHSP

Chesapeake Lodging

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0.01 (0.03%)

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FLXN

Flexion

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KNSL

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CHSP

Chesapeake Lodging

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CHSP

Chesapeake Lodging

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0.01 (0.03%)

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GMED

Globus Medical

$47.68

0.05 (0.10%)

16:40
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SEM

Select Medical

$15.49

-0.11 (-0.71%)

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ULH

Universal Logistics

$23.66

(0.00%)

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  • 22

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CASA

Casa Systems

$11.96

-0.02 (-0.17%)

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BIIB

Biogen

$320.99

-14.02 (-4.18%)

16:39
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GMED

Globus Medical

$47.68

0.05 (0.10%)

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CASA

Casa Systems

$11.96

-0.02 (-0.17%)

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Earnings
Casa Systems sees FY19 EPS 30c-40c, consensus 73c »

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REGN

Regeneron

$418.66

-3.9 (-0.92%)

16:38
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MBIN

Merchants Bancorp

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HF

HFF Inc.

$42.40

-0.26 (-0.61%)

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HASI

Hannon Armstrong

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SEM

Select Medical

$15.49

-0.11 (-0.71%)

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Earnings
Select Medical backs FY19 EPS view 97c-$1.13, consensus $1.10 »

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BOOM

DMC Global

$35.37

0.04 (0.11%)

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Earnings
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BIDU

Baidu

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0.64 (0.37%)

16:36
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CPB

Campbell Soup

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0.26 (0.74%)

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MGM

MGM Resorts

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CASA

Casa Systems

$11.96

-0.02 (-0.17%)

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Casa Systems reports Q4 EPS 20c, consensus 14c »

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BOOM

DMC Global

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DMC Global reports Q4 EPS 46c, consensus 36c »

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