Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Price Target at $35.50

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.50.

Several equities analysts have recently weighed in on CWEN shares. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price target on the stock. CIBC cut Clearway Energy from an “outperform” rating to a “neutral” rating in a research report on Saturday. Finally, Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, June 27th.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $32.94 on Thursday. The company’s fifty day moving average price is $31.22 and its 200-day moving average price is $28.89. The stock has a market cap of $6.66 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. Clearway Energy has a 12 month low of $24.40 and a 12 month high of $33.22.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. On average, equities analysts expect that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a dividend yield of 5.32%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, June 2nd. Clearway Energy’s dividend payout ratio is presently 218.75%.

Institutional Investors Weigh In On Clearway Energy

A number of large investors have recently made changes to their positions in CWEN. Prudent Man Advisors LLC lifted its holdings in shares of Clearway Energy by 2.0% in the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company’s stock worth $794,000 after acquiring an additional 516 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its stake in Clearway Energy by 0.9% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company’s stock worth $1,703,000 after purchasing an additional 586 shares in the last quarter. Monetary Management Group Inc. boosted its position in shares of Clearway Energy by 4.3% during the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company’s stock worth $436,000 after buying an additional 600 shares during the period. WBI Investments LLC grew its stake in shares of Clearway Energy by 5.0% in the first quarter. WBI Investments LLC now owns 17,544 shares of the company’s stock valued at $531,000 after buying an additional 834 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Clearway Energy by 0.5% in the 1st quarter. Alps Advisors Inc. now owns 169,464 shares of the company’s stock valued at $5,130,000 after buying an additional 862 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.