Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $36.40.

A number of equities analysts have recently commented on CWEN shares. Cibc World Mkts downgraded shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Jefferies Financial Group lifted their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, CIBC downgraded shares of Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Saturday, July 19th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CWEN. Prudent Man Advisors LLC boosted its stake in Clearway Energy by 2.0% during the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company’s stock valued at $794,000 after purchasing an additional 516 shares during the period. Uniplan Investment Counsel Inc. raised its holdings in shares of Clearway Energy by 0.9% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company’s stock valued at $1,703,000 after acquiring an additional 586 shares during the period. Monetary Management Group Inc. raised its holdings 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 valued at $436,000 after acquiring an additional 600 shares during the period. Abundance Wealth Counselors raised its holdings in shares of Clearway Energy by 1.6% during the second quarter. Abundance Wealth Counselors now owns 39,158 shares of the company’s stock valued at $1,253,000 after acquiring an additional 624 shares during the period. Finally, Spirit of America Management Corp NY grew its position in Clearway Energy by 5.2% during the second quarter. Spirit of America Management Corp NY now owns 15,300 shares of the company’s stock valued at $490,000 after purchasing an additional 750 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $30.20 on Monday. The company’s fifty day simple moving average is $31.73 and its 200-day simple moving average is $29.54. Clearway Energy has a 52 week low of $24.40 and a 52 week high of $33.22. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a market cap of $6.11 billion, a PE ratio of 46.45, a P/E/G ratio of 1.03 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The business had revenue of $392.00 million during the quarter, compared to analysts’ expectations of $428.33 million. During the same period in the prior year, the business posted $0.43 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.4456 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.78 annualized dividend and a yield of 5.9%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.44. Clearway Energy’s dividend payout ratio (DPR) is 269.23%.

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.