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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $43.00.

A number of brokerages have issued reports on CWEN. UBS Group upped their price objective on Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Morgan Stanley lifted their target price on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a report on Thursday, April 9th.

Clearway Energy Stock Down 1.8%

Shares of NYSE CWEN opened at $33.55 on Thursday. The firm’s 50-day moving average price is $38.27 and its 200-day moving average price is $37.50. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 838.96 and a beta of 0.89. Clearway Energy has a 12-month low of $27.67 and a 12-month high of $41.74.

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

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.4676 per share. This represents a $1.87 dividend on an annualized basis and a yield of 5.6%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 1st. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CWEN. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares during the last quarter. National Bank of Canada FI grew its holdings in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Huntington National Bank grew its holdings in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares during the last quarter. Geneos Wealth Management Inc. grew 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 during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Clearway Energy in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors 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.