Clearway Energy, Inc. (NYSE:CWEN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $43.00.

Several equities research analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Royal Bank Of Canada lifted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th.

Clearway Energy Price Performance

CWEN stock opened at $39.74 on Friday. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 993.65 and a beta of 0.86. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. Clearway Energy has a 12-month low of $27.67 and a 12-month high of $41.74. The company’s fifty day simple moving average is $39.30 and its 200 day simple moving average is $37.24.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. On average, analysts expect that Clearway Energy will post -0.87 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.4676 dividend. This represents a $1.87 annualized dividend and a yield of 4.7%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 1st. Clearway Energy’s payout ratio is presently 4,675.00%.

Institutional Investors Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased 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 purchasing an additional 705 shares in the last quarter. National Bank of Canada FI increased its position in shares of Clearway Energy by 201.9% during 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 in the last quarter. Huntington National Bank increased its position in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 412 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Clearway Energy by 94.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Clearway Energy during the second quarter worth about $43,000. 84.53% of the stock is owned by institutional investors.

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.