Clearway Energy (NYSE:CWEN) Upgraded to Overweight by Morgan Stanley

Morgan Stanley upgraded shares of Clearway Energy (NYSE:CWEN) from an equal weight rating to an overweight rating in a report issued on Wednesday, Marketbeat reports. Morgan Stanley currently has $36.00 target price on the stock, up from their previous target price of $25.00.

Several other equities research analysts have also recently issued reports on the stock. Roth Mkm lifted their target price on shares of Clearway Energy from $29.00 to $30.00 and gave the stock a buy rating in a research note on Monday, May 13th. StockNews.com upgraded Clearway Energy from a sell rating to a hold rating in a report on Wednesday, May 15th. Finally, Evercore ISI lifted their price target on Clearway Energy from $25.00 to $30.00 and gave the stock an outperform rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $31.17.

Clearway Energy Trading Down 1.0 %

Shares of CWEN opened at $27.69 on Wednesday. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $28.71. The company has a quick ratio of 1.65, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $26.08 and its two-hundred day moving average is $24.46. The stock has a market cap of $5.60 billion, a PE ratio of 41.95 and a beta of 0.85.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. Research analysts forecast that Clearway Energy will post 0.74 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a $0.417 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Tuesday, September 3rd. Clearway Energy’s payout ratio is 248.49%.

Institutional Trading of Clearway Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. raised its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the period. Fulton Bank N.A. increased its stake in Clearway Energy by 7.1% during the first quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock worth $240,000 after purchasing an additional 688 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Clearway Energy during the fourth quarter worth about $25,000. Finally, Insight Advisors LLC PA lifted its position in shares of Clearway Energy by 9.3% during the fourth quarter. Insight Advisors LLC PA now owns 17,924 shares of the company’s stock worth $492,000 after purchasing an additional 1,529 shares in the last quarter. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.