Clearway Energy, Inc. (NYSE:CWEN) Stock Rated “Moderate Buy” by Sell-Side Analysts

Clearway Energy, Inc. (NYSE:CWEN) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.44.

A number of equities analysts recently commented on CWEN shares. Evercore reiterated a “positive” rating and issued a $40.00 target price on shares of Clearway Energy in a research report on Monday, August 17th. Jefferies Financial Group reissued a “buy” rating and issued a $38.00 price target on shares of Clearway Energy in a research note on Friday, September 4th. UBS Group upped their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings cut Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Finally, Morgan Stanley reduced their price objective on Clearway Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 18th.

Clearway Energy Price Performance

Shares of CWEN stock traded up $0.03 during trading hours on Friday, hitting $29.98. 1,028,372 shares of the company’s stock were exchanged, compared to its average volume of 1,235,680. The company has a market capitalization of $6.16 billion, a PE ratio of 39.45 and a beta of 0.88. Clearway Energy has a 12-month low of $28.57 and a 12-month high of $41.74. The business’s 50 day simple moving average is $31.31 and its 200-day simple moving average is $34.99. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data 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. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The firm had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. On average, equities research analysts anticipate that Clearway Energy will post -0.37 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.4750 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.4676. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.3%. Clearway Energy’s dividend payout ratio is presently 250.00%.

Institutional Investors Weigh In On Clearway Energy

Institutional investors have recently bought and sold shares of the stock. Allied Private Wealth LLC bought a new position in Clearway Energy during the 2nd quarter worth approximately $35,000. Fortitude Family Office LLC lifted its position in Clearway Energy by 590.5% in the third quarter. Fortitude Family Office LLC now owns 1,160 shares of the company’s stock valued at $34,000 after purchasing an additional 992 shares during the last quarter. Eastern Bank bought a new stake in Clearway Energy in the second quarter valued at approximately $57,000. First Bancorp Inc ME bought a new stake in Clearway Energy in the second quarter valued at approximately $65,000. Finally, Community Financial Services Group LLC lifted its position in Clearway Energy by 40.0% in the third quarter. Community Financial Services Group LLC now owns 2,100 shares of the company’s stock valued at $61,000 after purchasing an additional 600 shares during the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company’s operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway’s renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.