Clearway Energy, Inc. (NYSE:CWEN) Receives $40.14 Consensus PT from Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $40.1429.

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Canadian Imperial Bank of Commerce raised shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their price objective for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Roth Mkm reissued a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, January 21st. Finally, UBS Group set a $45.00 price target on shares of Clearway Energy in a research note on Tuesday, February 24th.

Clearway Energy Trading Down 1.3%

Clearway Energy stock opened at $37.57 on Friday. The business has a 50 day moving average price of $36.36 and a two-hundred day moving average price of $33.40. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 1.36. Clearway Energy has a 12 month low of $25.63 and a 12 month high of $41.51. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 1.65 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.68). The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $334.42 million. Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.During the same period in the previous year, the business posted ($0.41) EPS. As a group, equities analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.4602 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.84 annualized dividend and a yield of 4.9%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is presently 129.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its position 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 boosted its holdings in shares of Clearway Energy by 201.9% in the 3rd 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. Mather Group LLC. bought a new stake in Clearway Energy during the 3rd quarter worth approximately $29,000. Huntington National Bank grew its position in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 412 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

About Clearway Energy

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.