Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $36.20

Clearway Energy, Inc. (NYSE:CWENGet Rating) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $36.20.

Several brokerages recently commented on CWEN. TheStreet downgraded shares of Clearway Energy from a “b-” rating to a “c+” rating in a report on Monday, May 9th. StockNews.com began coverage on Clearway Energy in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded Clearway Energy from a “hold” rating to a “strong sell” rating and set a $28.00 target price for the company. in a report on Wednesday, January 19th.

Several institutional investors have recently modified their holdings of the company. Bramshill Investments LLC lifted its position in shares of Clearway Energy by 70.3% during the 3rd quarter. Bramshill Investments LLC now owns 72,524 shares of the company’s stock worth $2,195,000 after buying an additional 29,933 shares during the last quarter. Profund Advisors LLC bought a new position in shares of Clearway Energy in the fourth quarter worth about $207,000. First Trust Advisors LP boosted its stake in shares of Clearway Energy by 20.8% in the 4th quarter. First Trust Advisors LP now owns 788,800 shares of the company’s stock valued at $28,420,000 after purchasing an additional 136,015 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Clearway Energy by 192.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 65,900 shares of the company’s stock valued at $1,995,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its position in Clearway Energy by 3.0% during the 4th quarter. Endurance Wealth Management Inc. now owns 87,926 shares of the company’s stock worth $3,168,000 after purchasing an additional 2,600 shares in the last quarter. 34.38% of the stock is owned by institutional investors.

Shares of NYSE CWEN traded up $0.33 during trading hours on Friday, hitting $31.33. The company had a trading volume of 513,855 shares, compared to its average volume of 959,534. The stock has a market capitalization of $6.33 billion, a P/E ratio of 241.00, a price-to-earnings-growth ratio of 6.99 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 2.22. The firm’s 50 day moving average is $34.38 and its 200-day moving average is $34.73. Clearway Energy has a 1-year low of $25.20 and a 1-year high of $39.75.

Clearway Energy (NYSE:CWENGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Clearway Energy had a net margin of 1.27% and a return on equity of 0.52%. The firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.91 million. On average, sell-side analysts predict that Clearway Energy will post 0.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.354 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Tuesday, May 31st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. Clearway Energy’s payout ratio is 1,069.23%.

Clearway Energy Company Profile (Get Rating)

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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