Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $33.13.

Several brokerages have issued reports on CWEN. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. CIBC lifted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Roth Mkm reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd.

Clearway Energy Trading Up 0.5 %

Shares of CWEN opened at $27.80 on Friday. Clearway Energy has a 52-week low of $20.63 and a 52-week high of $30.92. The stock has a market cap of $5.62 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 2.37 and a beta of 0.87. The firm’s fifty day moving average is $28.30 and its two-hundred day moving average is $27.11. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. Research analysts forecast that Clearway Energy will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a yield of 6.10%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is 160.58%.

Institutional Trading of Clearway Energy

Several hedge funds have recently made changes to their positions in the business. Significant Wealth Partners LLC acquired a new stake in Clearway Energy during the 1st quarter worth approximately $480,000. Sei Investments Co. acquired a new stake in shares of Clearway Energy in the first quarter valued at $1,010,000. Meeder Asset Management Inc. purchased a new position in Clearway Energy in the first quarter valued at $747,000. Qsemble Capital Management LP acquired a new position in Clearway Energy during the 1st quarter worth $516,000. Finally, Everence Capital Management Inc. grew its stake in Clearway Energy by 17.9% during the 1st quarter. Everence Capital Management Inc. now owns 28,910 shares of the company’s stock worth $666,000 after purchasing an additional 4,380 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

About Clearway Energy

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.