Shares of Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $28.00.
CWEN has been the topic of a number of research analyst reports. TheStreet lowered Clearway Energy from a “b-” rating to a “c” rating in a research report on Tuesday, August 8th. Bank of America upgraded Clearway Energy from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $29.00 to $27.00 in a research report on Friday, October 6th. Oppenheimer decreased their price objective on Clearway Energy from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 12th. Morgan Stanley reduced their price target on Clearway Energy from $27.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 3rd. Finally, StockNews.com assumed coverage on Clearway Energy in a research report on Thursday, October 5th. They issued a “hold” rating on the stock.
Insider Buying and Selling at Clearway Energy
Institutional Trading of Clearway Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ClearBridge Investments Ltd increased its position in shares of Clearway Energy by 4.0% in the first quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock valued at $77,619,000 after acquiring an additional 204,217 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Clearway Energy by 49.2% in the first quarter. 1832 Asset Management L.P. now owns 2,328,073 shares of the company’s stock valued at $72,939,000 after acquiring an additional 767,961 shares during the last quarter. HITE Hedge Asset Management LLC grew its holdings in Clearway Energy by 9.1% during the first quarter. HITE Hedge Asset Management LLC now owns 1,193,507 shares of the company’s stock worth $37,393,000 after purchasing an additional 99,275 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Clearway Energy by 8.9% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 832,538 shares of the company’s stock worth $17,617,000 after purchasing an additional 68,023 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Clearway Energy by 0.8% during the second quarter. Victory Capital Management Inc. now owns 547,829 shares of the company’s stock worth $15,646,000 after purchasing an additional 4,371 shares during the period. Institutional investors and hedge funds own 33.94% of the company’s stock.
Clearway Energy Trading Up 2.9 %
Shares of CWEN opened at $22.77 on Tuesday. Clearway Energy has a 1 year low of $18.59 and a 1 year high of $36.57. The company has a current ratio of 2.13, a quick ratio of 2.04 and a debt-to-equity ratio of 1.63. The stock has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $26.50. The stock has a market cap of $4.60 billion, a PE ratio of 32.07 and a beta of 0.76.
Clearway Energy (NYSE:CWEN – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.22). Clearway Energy had a return on equity of 2.00% and a net margin of 6.30%. The company had revenue of $406.00 million during the quarter, compared to analyst estimates of $375.59 million. During the same period in the previous year, the company posted ($3.86) earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Clearway Energy will post 1.13 EPS for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.389 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.56 annualized dividend and a dividend yield of 6.83%. Clearway Energy’s dividend payout ratio (DPR) is currently 219.72%.
About Clearway Energy
Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional, Renewables, and Thermal segments. It has approximately 5,500 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities.
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