Clearway Energy, Inc. (NYSE:CWEN) Receives $33.00 Average Target Price from Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $33.00.

CWEN has been the topic of a number of research reports. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Roth Mkm reiterated a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th.

Institutional Trading of Clearway Energy

Large investors have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new stake in Clearway Energy in the 4th quarter worth approximately $25,000. Mather Group LLC. bought a new stake in Clearway Energy in the first quarter valued at $37,000. Abich Financial Wealth Management LLC increased its position in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after purchasing an additional 625 shares during the period. 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 worth $50,000 after purchasing an additional 512 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares in the last quarter. 38.03% of the stock is owned by institutional investors.

Clearway Energy Stock Down 1.0 %

Clearway Energy stock opened at $27.27 on Tuesday. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The firm’s 50-day simple moving average is $28.80 and its 200 day simple moving average is $26.68. The stock has a market cap of $5.51 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business’s revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. Research analysts predict that Clearway Energy will post 0.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.417 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.12%. Clearway Energy’s payout ratio is presently 219.74%.

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.