Analysts Set Clearway Energy, Inc. (NYSE:CWEN) PT at $40.57

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.5714.

CWEN has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their target price on Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research note on Thursday, April 9th. 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. Zacks Research cut Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings cut Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Hedge Funds Weigh In On Clearway Energy

A number of large investors have recently bought and sold shares of the stock. Lazard Freres Gestion S.A.S. increased its stake in Clearway Energy by 1.4% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock worth $657,000 after purchasing an additional 270 shares during the period. Ballentine Partners LLC increased its stake in Clearway Energy by 2.0% in the 4th quarter. Ballentine Partners LLC now owns 17,096 shares of the company’s stock worth $569,000 after purchasing an additional 333 shares during the period. Courier Capital LLC increased its stake in Clearway Energy by 1.2% in the 4th quarter. Courier Capital LLC now owns 33,193 shares of the company’s stock worth $1,104,000 after purchasing an additional 385 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Clearway Energy by 1.4% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company’s stock worth $948,000 after purchasing an additional 400 shares during the period. Finally, Huntington National Bank increased its stake in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

NYSE:CWEN opened at $36.06 on Wednesday. The business has a 50 day moving average of $38.98 and a 200 day moving average of $36.75. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 901.83 and a beta of 0.87. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The firm had revenue of $354.00 million during the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, sell-side analysts predict that Clearway Energy will post -0.41 earnings per share for the current fiscal 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 is an increase from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 5.2%. Clearway Energy’s payout ratio is presently 4,600.00%.

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.