Clearway Energy, Inc. (NYSE:CWEN) Receives $40.14 Average PT from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.50.

CWEN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. UBS Group set a $45.00 target price on shares of Clearway Energy in a research report on Tuesday, February 24th. Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of 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 acquiring an additional 652 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Clearway Energy during the third quarter valued at approximately $29,000. Huntington National Bank raised its position in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 412 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Clearway Energy by 94.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Down 0.7%

Shares of Clearway Energy stock opened at $38.91 on Tuesday. Clearway Energy has a one year low of $25.63 and a one year high of $41.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.13 and a quick ratio of 1.06. The stock’s 50-day moving average is $38.14 and its 200 day moving average is $34.40. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.70 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share 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 business 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 firm posted ($0.41) earnings per share. Equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.4602 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.84 annualized dividend and a dividend yield of 4.7%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio (DPR) is 129.58%.

Clearway Energy Company Profile

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.