Clearway Energy
Acquires and holds PPA-contracted US wind, solar, storage and gas generation via sponsor dropdowns.
Something off on this page? Send us feedback.
Profile
Owns roughly 12.9 GW of PPA-contracted US wind, solar, battery-storage and dispatchable-gas generation, acquired through dropdowns from private sponsor Clearway Energy Group rather than built in-house. Long-dated contracts with investment-grade utilities and a dividend geared to distributable cash flow define the model.
Owns roughly 12.9 GW of PPA-contracted US generation — wind, solar and battery storage alongside dispatchable natural gas — split into Renewables and Flexible Generation segments.
The plants are developed and built by a private sponsor, Clearway Energy Group, which drops completed, contracted assets down once they reach commercial operation. The public company's job is capital allocation: fund acquisitions, run the balance sheet, and pay a dividend tied to distributable cash flow.
Revenue depends on long-dated power-purchase agreements with investment-grade utilities, with the gas fleet concentrated among California counterparties. Sponsorship has passed from NRG Energy at the 2013 listing to Global Infrastructure Partners in 2018, now co-owned by BlackRock and TotalEnergies.
An April 2026 conversion collapsed the multi-class share structure into a single public share class, with the sponsor retaining majority voting control through a voting trust.
Company facts
Key statistics
Year to date −6.4% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 18, 2026 | Morgan Stanley | Reiterate | Overweight | $60 | $58 | |
| Aug 17, 2026 | Evercore ISI | Reiterate | Positive | $34 | $40 | |
| Jul 17, 2026 | CIBC | Target | $38 | $42 | ||
| Jul 13, 2026 | Truist Financial | Target | $43 | |||
| May 27, 2026 | Morgan Stanley | Reiterate | Overweight | $56 | $60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.24 | $1.00 | +316.7% | $473.9M | $481.0M | +1.5% | +5.36% |
| May 7, 2026Q1 FY26 | −$0.45 | −$1.35 | −200.0% | $340.7M | $354.0M | +3.9% | +0.05% |
| Feb 23, 2026Q4 FY25 | −$0.21 | −$0.89 | −323.8% | $333.5M | $310.0M | −7.1% | −3.15% |
| Nov 4, 2025Q3 FY25 | $0.32 | $2.00 | +525.0% | $335.1M | $429.0M | +28.0% | +6.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $298.0M | $392.0M | $429.0M | $310.0M | $354.0M | $481.0M | |
| Gross profit | $176.0M | $261.0M | $301.0M | −$19.0M | $220.0M | $332.0M | |
| Operating income | $3.0M | $85.0M | $112.0M | −$29.0M | $27.0M | $116.0M | |
| Net income | $4.0M | $33.0M | $236.0M | −$104.0M | −$163.0M | $122.0M | |
| Diluted EPS | $0.03 | $0.28 | $2.00 | −$0.87 | −$1.37 | $1.00 | |
| Gross margin | 59.1% | 66.6% | 70.2% | -6.1% | 62.1% | 69.0% | |
| Operating margin | 1.0% | 21.7% | 26.1% | -9.4% | 7.6% | 24.1% |
Fiscal years (4-quarter sums)FY21 $1.29B · FY22 $1.19B · FY23 $1.31B · FY24 $1.37B · FY25 $1.43B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $251.0M · Total debt $9.89B · Total assets $16.77B · Shareholders' equity $5.47B
Dividends
Raised for 6 straight years — most recently to $0.4676 from $0.4602 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.4676 | raised from $0.4602 |
| Mar 2, 2026 | Mar 2 | Mar 16 | $0.4602 | raised from $0.4528 |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.4528 | raised from $0.4456 |
| Sep 2, 2025 | Sep 2 | Sep 16 | $0.4456 | raised from $0.4384 |
| Jun 2, 2025 | Jun 2 | Jun 16 | $0.4384 | raised from $0.4312 |
| Mar 3, 2025 | Mar 3 | Mar 17 | $0.4312 | raised from $0.424 |
| Dec 2, 2024 | Dec 2 | Dec 16 | $0.424 | raised from $0.4171 |
| Sep 3, 2024 | Sep 3 | Sep 16 | $0.4171 | raised from $0.4102 |
Ownership
Shares outstanding 205.48M · Float 202.03M · 98.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| TotalEnergies Gestion USA SARL | 84.18M | 41.00% | 13D | May 1, 2026 |
| Vanguard Portfolio Management LLC | 7.29M | 3.55% | 13F | Aug 13, 2026 |
| Clearbridge Investments, LLC | 5.61M | 2.73% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 5.46M | 2.66% | 13F | Aug 13, 2026 |
| Neuberger Berman Group LLC | 4.62M | 2.25% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- AES
Direct rival for US utility-scale wind, solar, storage and hyperscaler PPAs.
- Brookfield Renewable Partners
Global hydro-wind-solar-storage IPP pursuing the same institutional capital.
- XPLR Infrastructure
Closest listed yieldco peer, now reset to a distribution-suspended model.
- Ormat Technologies
Geothermal-led IPP now winning the same hyperscaler data-center PPAs.
- Bloom Energy
On-site fuel-cell power vying for the same hyperscaler decarbonization deals.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Clearway Energy | $32.00 | +0.69% | $6.53B | 41.8 | — | 4.1 | +22.7% |
| AES | $14.72 | 0.00% | $10.50B | 5.6 | 7.6 | 0.8 | +19.9% |
| Brookfield Renewable Partners | $32.20 | +1.42% | $9.71B | 69.0 | — | 1.5 | +1.1% |
| XPLR Infrastructure | $11.72 | −0.09% | $1.10B | 17.5 | 19.8 | 0.9 | +6.5% |
| Ormat Technologies | $102.00 | −1.00% | $6.33B | 50.8 | 53.3 | 5.3 | +10.6% |
| Bloom Energy | $210.81 | +0.08% | $62.08B | 278.9 | 58.9 | 19.9 | +165.5% |
| Median | 50.8 | 36.6 | 1.5 | +10.6% |