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

Clearway Energy, Inc. (NYSE:CWEN) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $43.00.

CWEN has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on Clearway Energy in a report on Thursday, April 9th. Finally, Morgan Stanley raised their target price on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in 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. Caitong International Asset Management Co. Ltd raised its position in shares of Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI lifted its stake in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after buying an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Clearway Energy in the 2nd quarter worth approximately $43,000. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Trading Down 0.4%

NYSE CWEN opened at $33.35 on Thursday. The business’s fifty day moving average is $37.64 and its 200-day moving average is $37.52. 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 $6.85 billion, a price-to-earnings ratio of 833.88 and a beta of 0.89. Clearway Energy has a one year low of $27.67 and a one year high of $41.74.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The company had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. Equities research analysts predict that Clearway Energy will post -0.87 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.4676 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 annualized dividend and a yield of 5.6%. Clearway Energy’s payout ratio is 4,675.00%.

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.