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

Clearway Energy, Inc. (NYSE:CWEN) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $31.17.

A number of research firms have weighed in on CWEN. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, Evercore ISI raised their price objective on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th.

Clearway Energy Trading Up 1.5 %

Shares of CWEN stock opened at $28.96 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The firm has a market cap of $5.85 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85. The company has a 50-day moving average of $26.80 and a two-hundred day moving average of $25.12. Clearway Energy has a 1-year low of $18.59 and a 1-year high of $29.48.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same period in the previous year, the business posted $0.33 EPS. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts predict that Clearway Energy will post 0.9 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 5.76%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is 248.49%.

Institutional Trading of Clearway Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. lifted its holdings in Clearway Energy by 12.0% in the 2nd quarter. Dana Investment Advisors Inc. now owns 43,445 shares of the company’s stock worth $1,073,000 after buying an additional 4,655 shares in the last quarter. Quarry LP lifted its holdings in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after buying an additional 843 shares in the last quarter. Creative Planning raised its stake in shares of Clearway Energy by 25.3% in the 2nd quarter. Creative Planning now owns 13,316 shares of the company’s stock valued at $329,000 after purchasing an additional 2,691 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Clearway Energy in the 2nd quarter valued at about $1,595,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares in the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.