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  • Monday, May 27, 2019

    A New Energy Bet To Watch

    Put This High-Yield Renewable Energy Stock on Your Watch List Now; Clearway Energy's results are being impacted by the ongoing PG&E bankruptcy, but it's likely to emerge unaffected. That could make it an excellent buy, if management can fix some other problems.

    Jason Hall, May 26, 2019 (Motley Fool)

    “…The dividend yield of New Energy developer Clearway Energy (NYSE:CWEN) (NYSE:CWEN-A) appears to] put its shares among the highest-yielding yieldco stocks, currently outyielding Pattern Energy Group (NASDAQ:PEGI), Brookfield Renewable Partners (NYSE:BEP), TerraForm Power (NASDAQ:TERP), and NextEra Energy Partners (NYSE:NEP)…[But the ongoing bankruptcy of one of its biggest customers, PG&E (NYSE:PCG), forced it] to cut its quarterly dividend to $0.20 per share in late 2018, and the forward yield is 5.4% at recent prices…It could be some time before there's resolution on this issue, even as PG&E continues to pay Clearway at agreed-upon rates, and could emerge from bankruptcy sooner than expected. That keeps Clearway off the buy list…

    But it's on my watchlist… [T]here are other things Clearway must correct to get its cash flow moving in the right direction…[It must improve its balance sheet and grow] its portfolio of projects, and the company is making progress in this regard…[Though there must also be some resolution to the PG&E bankruptcy, the long-term result is likely] to be minimal impact for Clearway…[But] until the company demonstrates it can generate more cash from the rest of its assets, the dividend remains at risk…[M]anagement should be able to resolve this in due time…[Until then, yieldco Brookfield Renewable has] shown it can make money and steadily grow its dividend.” click here for more


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