Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $32.57

Clearway Energy, Inc. (NYSE:CWEN) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $32.57.

Separately, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th.

Insider Transactions at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. boosted its position in Clearway Energy by 7.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company’s stock valued at $72,772,000 after purchasing an additional 186,544 shares during the period. RWC Asset Management LLP boosted its position in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock valued at $32,480,000 after purchasing an additional 642,322 shares during the period. abrdn plc boosted its position in Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after purchasing an additional 141,500 shares during the period. Northwest & Ethical Investments L.P. boosted its position in Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company’s stock worth $15,075,000 after acquiring an additional 14,296 shares during the period. Finally, King Luther Capital Management Corp boosted its position in Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company’s stock worth $14,143,000 after acquiring an additional 525,450 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Price Performance

CWEN stock opened at $27.42 on Monday. 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 has a 52-week low of $20.63 and a 52-week high of $30.92. The stock’s 50 day moving average is $26.05 and its two-hundred day moving average is $27.55. The company has a market capitalization of $5.54 billion, a PE ratio of 26.37, a P/E/G ratio of 1.75 and a beta of 0.88.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.4312 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 6.29%. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

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.