Clearway Energy, Inc. (NYSE:CWEN) Receives $37.13 Consensus PT from Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.25.

A number of equities research analysts have weighed in on CWEN shares. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. CIBC raised Clearway Energy from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Tuesday. Evercore ISI began coverage on shares of Clearway Energy in a research report on Monday, October 6th. They set an “in-line” rating and a $34.00 price target for the company. UBS Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Clearway Energy in a research note on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $32.40 on Friday. The firm’s 50-day moving average price is $33.62 and its 200-day moving average price is $31.65. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The company has a market cap of $6.60 billion, a PE ratio of 13.84, a PEG ratio of 0.38 and a beta of 0.95. Clearway Energy has a 52-week low of $24.40 and a 52-week high of $36.89.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.68. The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. As a group, analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.4528 per share. This represents a $1.81 annualized dividend and a yield of 5.6%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, December 1st. Clearway Energy’s dividend payout ratio (DPR) is presently 77.35%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after acquiring an additional 705 shares during the period. National Bank of Canada FI lifted its holdings in Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. purchased a new position in Clearway Energy during the third quarter valued at approximately $29,000. Hilltop National Bank bought a new position in shares of Clearway Energy in the second quarter worth approximately $35,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Clearway Energy in the second quarter worth $43,000. Institutional investors own 84.53% of the company’s stock.

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.