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Clearway Energy
(NYSE:CWEN)
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Rating:61Neutral
Price Target:
$36.00
▼(-8.02% Downside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by solid cash-flow strength but constrained by weak recent profitability and high leverage. The latest earnings call adds support via reaffirmed CAFD guidance, increased capital deployment plans, and strong project economics, while technical indicators remain a near-term headwind. Valuation is mixed: a strong dividend yield is offset by a negative P/E.
Positive Factors
Contracted, PPA‑driven cash flows
A business model centered on long‑term PPAs and contracted offtakes creates durable, predictable cash available for distribution (CAFD). That stability reduces merchant exposure, underpins dividend capacity and supports multi‑year capital deployment and refinancing plans despite short‑term resource swings.
Negative Factors
High leverage
A meaningfully debt‑heavy balance sheet raises sensitivity to interest rates and refinancing windows, limiting strategic flexibility. High leverage can constrain discretionary capital allocation, increase funding costs for incremental projects, and amplify downside on cash flow shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted, PPA‑driven cash flows
A business model centered on long‑term PPAs and contracted offtakes creates durable, predictable cash available for distribution (CAFD). That stability reduces merchant exposure, underpins dividend capacity and supports multi‑year capital deployment and refinancing plans despite short‑term resource swings.
Read all positive factors
Clearway Energy Key Performance Indicators (KPIs)
Any
Net Income Breakdown
Analyzes the components contributing to net income, providing insight into profitability and how different factors like costs, taxes, and interest impact the bottom line.
Analyzes the components contributing to net income, providing insight into profitability and how different factors like costs, taxes, and interest impact the bottom line.
Data provided by:
The Fly
The FlyClearway Energy (CWEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.07B
Dividend Yield5.29%
Average Volume (3M)1.49M
Price to Earnings (P/E)861.3
Beta (1Y)0.14
Revenue Growth2.59%
EPS Growth-92.25%
CountryUS
Employees60
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.04
Shares Outstanding121,168,020
10 Day Avg. Volume1,154,526
30 Day Avg. Volume1,485,814
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)2.06
Price to Sales (P/S)2.77
P/FCF Ratio10.73
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$45.29Price Target Upside15.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-1.1
Revenue Forecast (FY)$1.68B
Clearway Energy Business Overview & Revenue Model
Company Description
Clearway Energy, Inc. (CWEN) operates as an energy company primarily focused on renewable power generation across the United States. Its diverse portfolio includes approximately 5,000 net megawatts (MW) of installed wind and solar projects, alongs...
How the Company Makes Money
Clearway Energy primarily makes money by generating and selling electricity from its operating renewable (wind and solar) and other power-generation assets. The core of its revenue model is contracted cash flows: many of its facilities sell power ...
Clearway Energy Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call emphasized strong execution, increased visibility to incremental growth opportunities, and upgraded near-term capital deployment (including a 20% increase in corporate cash deployment through 2029). Management reaffirmed 2026 guidance, reported solid operational performance in solar/battery and flexible generation, closed an accretive acquisition (Cardinal) with >12% CAFD yield, and secured robust financing (including a $1B tax equity facility). Primary operational headwinds were lower wind resources and availability at Alta driven by weather and a turbine enhancement program, which management expects to remedy in 2026. Overall, the positive drivers and expansion in visible growth investments materially outweigh the contained, operational weather-related headwinds.Positive Updates
Reaffirmed 2026 Guidance and 2027 Target
Reaffirmed full-year 2026 CAFD guidance of $470M–$510M and reiterated 2027 CAFD per share target of $2.70 or better, signaling confidence in near-term financial objectives.
Negative Updates
Wind Resource Shortfall in Q1
Wind generation was below budget in certain regions due to adverse meteorological conditions during the first four months of the year (below‑average wind resource across the Western U.S.), with the most meaningful impact at the Alta wind assets.
Read all updates
Q1-2026 Updates
Positive
Negative
Reaffirmed 2026 Guidance and 2027 Target
Reaffirmed full-year 2026 CAFD guidance of $470M–$510M and reiterated 2027 CAFD per share target of $2.70 or better, signaling confidence in near-term financial objectives.
Read all positive updates
Company Guidance
Clearway reaffirmed full‑year 2026 CAFD guidance of $470–$510 million (assuming P50 resource), reported Q1 adjusted EBITDA of $257 million and Q1 CAFD of $70 million, and reiterated a 2027 CAFD per‑share target of $2.70+ and a 2030 CAFD per‑share target range of $2.90–$3.10 (now aiming for the top end or better) with plans to set a 2031 target later this year targeting the high end of 5%–8%+ annual growth from the 2030 midpoint. Management now expects to deploy $3.0 billion of corporate capital over 2026–2029 (≈20% more than prior outlook) and at least $1.0 billion in 2030; the repowering program is expected to deploy ~$600 million at 11%–12% CAFD yields, the Cardinal acquisition is expected to yield in excess of 12%, and future M&A targets ~10.5%+ CAFD yields. Sponsor‑enabled 2026/2027 vintages are 100% commercialized, >70% of 2028 MW are contracted/signed, the 2029 pipeline includes >4 GW (including ~2 GW solar+storage late‑stage), and the corporate funding framework targets 4.0–4.5x leverage, a payout ratio in the 70s, using retained CAFD first with roughly 45% corporate debt and ~55% equity for incremental capital above the baseline.Clearway Energy Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
44
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.49B | 1.43B | 1.37B | 1.31B | 1.19B | 1.29B |
| Gross Profit | 763.00M | 217.00M | 870.00M | 841.00M | 755.00M | 835.00M |
| EBITDA | 1.13B | 1.10B | 1.08B | 1.03B | 2.20B | 904.00M |
| Net Income | 2.00M | 169.00M | 88.00M | 79.00M | 582.00M | 51.00M |
Balance Sheet | ||||||
| Total Assets | 16.93B | 16.66B | 14.33B | 14.70B | 12.31B | 12.81B |
| Cash, Cash Equivalents and Short-Term Investments | 325.00M | 818.00M | 332.00M | 535.00M | 657.00M | 179.00M |
| Total Debt | 9.94B | 10.20B | 7.75B | 8.66B | 7.36B | 8.27B |
| Total Liabilities | 11.36B | 10.74B | 8.77B | 9.71B | 8.28B | 9.51B |
| Stockholders Equity | 5.50B | 1.92B | 2.06B | 2.10B | 2.23B | 1.83B |
Cash Flow | ||||||
| Free Cash Flow | 586.00M | 369.00M | 483.00M | 408.00M | 675.00M | 550.00M |
| Operating Cash Flow | 994.00M | 688.00M | 770.00M | 702.00M | 787.00M | 701.00M |
| Investing Cash Flow | -805.00M | 321.00M | -725.00M | -523.00M | 1.13B | 88.00M |
| Financing Cash Flow | -220.00M | -924.00M | -363.00M | -124.00M | -1.57B | -600.00M |
Clearway Energy Technical Analysis
Negative
39.14
Price Trends
37.06
Negative
37.84
Negative
35.50
Negative
Market Momentum
-1.13
Negative
42.71
Neutral
56.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWEN, the sentiment is Negative. The current price of 39.14 is above the 20-day moving average (MA) of 35.03, above the 50-day MA of 37.06, and above the 200-day MA of 35.50, indicating a bearish trend. The MACD of -1.13 indicates Negative momentum. The RSI at 42.71 is Neutral, neither overbought nor oversold. The STOCH value of 56.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CWEN.
Clearway Energy Risk Analysis
Clearway Energy disclosed 50 risk factors in its most recent earnings report. Clearway Energy reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clearway Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $6.60B | 52.24 | 5.04% | 0.42% | 31.45% | 1.12% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
61 Neutral | $7.07B | 861.25 | 0.05% | 5.29% | 2.59% | -92.25% | |
57 Neutral | $2.26B | 20.79 | 8.54% | ― | 30.87% | 121.64% | |
55 Neutral | $4.41B | 30.54 | 5.92% | 0.99% | 39.34% | -19.07% | |
48 Neutral | $6.30B | -1.07 | 494.50% | 3.84% | -6.14% | -1632.62% | |
45 Neutral | $3.14B | -3.46 | -40.01% | ― | -61.93% | -66.79% |
* Utilities Sector Average
CWEN
Clearway Energy
34.45
3.97
13.01%
ORA
Ormat Techno
109.70
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BEPC
Brookfield Renewable
34.94
1.25
3.72%
SMR
NuScale Power
8.36
-37.73
-81.86%
RNW
ReNew Energy Global
6.28
-1.38
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EE
Excelerate Energy, Inc. Class A
38.48
12.44
47.79%
Clearway Energy Corporate Events
Business Operations and StrategyExecutive/Board Changes
Clearway Energy Announces General Counsel Leadership Transition
Neutral
May 15, 2026
On May 15, 2026, Clearway Energy, Inc. announced that longtime Executive Vice President, General Counsel and Corporate Secretary Kevin P. Malcarney will retire effective June 1, 2026, after serving as General Counsel since May 2018 and nearly two ...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Clearway Energy Simplifies Capital Structure With Share Conversion
Neutral
May 1, 2026
At its April 29, 2026 annual meeting, Clearway Energy stockholders approved an amendment and restatement of the company’s certificate of incorporation to convert each share of Class A common stock into one share of Class C common stock, effe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.