Clearway Energy, Inc. (NYSE:CWEN) Given Average Rating of “Buy” by Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.7778.

CWEN has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Evercore reaffirmed a “positive” rating and set a $40.00 price objective on shares of Clearway Energy in a research report on Monday, August 17th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Weiss Ratings upgraded Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price target on Clearway Energy in a research note on Friday, July 17th.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its stake in shares of Clearway Energy by 42.3% in the second quarter. Sequoia Financial Advisors LLC now owns 8,644 shares of the company’s stock valued at $295,000 after purchasing an additional 2,571 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Clearway Energy in the 2nd quarter valued at approximately $83,000. Maven Securities LTD purchased a new position in Clearway Energy in the 2nd quarter valued at approximately $667,000. NewEdge Advisors LLC increased its position in shares of Clearway Energy by 51.0% during the second quarter. NewEdge Advisors LLC now owns 12,242 shares of the company’s stock worth $418,000 after acquiring an additional 4,136 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Clearway Energy by 276.7% during the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after acquiring an additional 152,292 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

NYSE:CWEN opened at $30.26 on Tuesday. Clearway Energy has a 52 week low of $27.67 and a 52 week high of $41.74. The stock’s fifty day moving average is $32.68 and its two-hundred day moving average is $36.40. The company has a market capitalization of $6.21 billion, a P/E ratio of 39.82 and a beta of 0.87. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Equities analysts expect that Clearway Energy will post -0.5 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.475 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. This represents a $1.90 dividend on an annualized basis and a yield of 6.3%. Clearway Energy’s dividend payout ratio (DPR) is 250.00%.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.