Clearway Energy, Inc. (NYSE:CWEN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $40.5714.

A number of research firms have recently weighed in on CWEN. Zacks Research cut Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Clearway Energy in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research report on Thursday, April 9th. Weiss Ratings cut Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, UBS Group set a $45.00 price target on Clearway Energy in a research report on Tuesday, February 24th.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWEN. Clearbridge Investments LLC lifted its position in Clearway Energy by 26.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock worth $154,890,000 after acquiring an additional 981,488 shares during the period. Wellington Management Group LLP acquired a new stake in Clearway Energy during the 4th quarter worth about $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock worth $13,757,000 after acquiring an additional 394,579 shares during the period. Capula Management Ltd acquired a new stake in Clearway Energy during the 3rd quarter worth about $4,646,000. Finally, Pacer Advisors Inc. lifted its position in Clearway Energy by 20.1% during the 4th quarter. Pacer Advisors Inc. now owns 837,006 shares of the company’s stock worth $27,839,000 after acquiring an additional 140,006 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Up 0.1%

Clearway Energy stock opened at $36.39 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 909.90 and a beta of 0.87. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.60. The business has a fifty day moving average price of $39.04 and a 200-day moving average price of $36.70.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The business had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. Equities research analysts forecast that Clearway Energy will post -0.41 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.4676 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 5.1%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is presently 4,600.00%.

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.