Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $28.33

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.33.

CWEN has been the topic of several research analyst reports. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Morgan Stanley increased their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Oppenheimer boosted their price objective on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada dropped their price target on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 27th.

Clearway Energy Trading Up 1.4 %

CWEN opened at $23.46 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $31.72. The firm’s fifty day moving average is $22.49 and its two-hundred day moving average is $23.63. The firm has a market cap of $4.74 billion, a PE ratio of 34.50 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.15. The company had revenue of $249.00 million during the quarter, compared to the consensus estimate of $282.45 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Clearway Energy will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.403 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.61 annualized dividend and a yield of 6.87%. Clearway Energy’s dividend payout ratio is presently 236.76%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies acquired 196,964 shares of Clearway Energy stock in a transaction dated Thursday, March 28th. The stock was bought at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the purchase, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. acquired a new stake in shares of Clearway Energy in the 4th quarter valued at approximately $9,807,000. Bank of Nova Scotia lifted its stake in Clearway Energy by 113.4% in the fourth quarter. Bank of Nova Scotia now owns 211,727 shares of the company’s stock valued at $5,808,000 after acquiring an additional 112,496 shares during the last quarter. Meritage Portfolio Management grew its position in shares of Clearway Energy by 163.6% in the 4th quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock valued at $3,731,000 after acquiring an additional 84,402 shares during the period. Pinebridge Investments L.P. grew its position in shares of Clearway Energy by 31.8% in the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after acquiring an additional 80,962 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Clearway Energy by 4,800.6% during the 4th quarter. Van ECK Associates Corp now owns 78,850 shares of the company’s stock worth $2,163,000 after purchasing an additional 77,241 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors.

Clearway Energy Company Profile

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.