This Nearly 6%-Yielding Stock Is Adding More Power to Drive Dividend Growth in 2027 and Beyond
Clearway Energy (NYSE: CWEN)(NYSE: CWEN.A) offers investors a high-yielding dividend currently approaching 6%. That's multiples higher than the S 500's (SNPINDEX: ^GSPC) dividend yield, which is near a 20-year low at around 1.2%.
The clean energy company has all the power needed to grow its dividend toward the upper end of its 5% to 8% annual target range through 2026. Because of that, it's working to lock in dividend growth within that range for 2027 and beyond. It recently secured some new investments aimed to help power its next phase of dividend growth.
Clearway Energy is executing a multiyear investment plan to grow its dividend in the upper end of its 5% to 8% annual target range through 2026. The company jump-started that strategy in 2022 when it cashed in on the value of its thermal assets, selling them to private equity giant KKR in a deal that brought in nearly $1.4 billion in net proceeds. It has been recycling that capital into higher-returning renewable energy investments.
Source Fool.com
KKR & Co. LP Stock
The stock is one of the favorites of our community with 41 Buy predictions and 2 Sell predictions.
As a result the target price of 133 € shows a positive potential of 25.8% compared to the current price of 105.72 € for KKR & Co. LP.
