Clearway Energy, Inc. (NYSE:CWEN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.1429.

A number of equities analysts have recently commented on CWEN shares. Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada lifted their target price on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday. Roth Mkm restated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of Clearway Energy in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their target price for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th.

Institutional Trading of Clearway Energy

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Clearway Energy by 12.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after acquiring an additional 3,787 shares during the period. Asset Management One Co. Ltd. boosted its position in Clearway Energy by 207.5% during the second quarter. Asset Management One Co. Ltd. now owns 44,907 shares of the company’s stock valued at $1,437,000 after purchasing an additional 30,305 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Clearway Energy in the second quarter valued at about $594,000. AGF Management Ltd. raised its holdings in Clearway Energy by 33.7% in the second quarter. AGF Management Ltd. now owns 21,830 shares of the company’s stock worth $699,000 after purchasing an additional 5,497 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Clearway Energy during the second quarter valued at about $356,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

CWEN stock opened at $38.25 on Friday. Clearway Energy has a twelve month low of $25.63 and a twelve month high of $41.51. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.55 and a beta of 0.95. The business’s fifty day simple moving average is $36.07 and its two-hundred day simple moving average is $33.17. The company has a quick ratio of 1.44, a current ratio of 1.13 and a debt-to-equity ratio of 1.36.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The company had revenue of $310.00 million during the quarter, compared to the consensus estimate of $334.42 million. During the same quarter in the previous year, the company posted ($0.41) earnings per share. Analysts predict that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.4602 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, March 2nd. Clearway Energy’s payout ratio is 77.35%.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.