Clearway Energy, Inc. (NYSE:CWEN) Receives $37.25 Consensus Price Target from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $37.25.

Several analysts have recently issued reports on CWEN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Clearway Energy in a research report on Wednesday, December 10th. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Roth Capital boosted their target price on shares of Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Finally, Evercore ISI started coverage on shares of Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 price target for the company.

Clearway Energy Stock Down 1.1%

Shares of CWEN opened at $32.03 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. Clearway Energy has a 12 month low of $24.40 and a 12 month high of $36.89. The firm’s 50 day moving average is $34.12 and its 200-day moving average is $31.88. The stock has a market capitalization of $6.53 billion, a PE ratio of 13.69, a P/E/G ratio of 1.21 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business had revenue of $429.00 million for the quarter, compared to the consensus estimate of $427.72 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.4528 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio (DPR) is 77.35%.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its stake in Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after buying an additional 705 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after acquiring an additional 652 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Clearway Energy in the 3rd quarter valued at approximately $29,000. Hilltop National Bank bought a new stake in shares of Clearway Energy during the 2nd quarter valued at approximately $35,000. Finally, Headlands Technologies LLC bought a new stake in shares of Clearway Energy during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.