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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $33.13.

A number of analysts have recently weighed in on CWEN shares. CIBC upped their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group initiated coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Clearway Energy during the 3rd quarter worth approximately $71,000. Sanctuary Advisors LLC acquired a new position in Clearway Energy in the 3rd quarter valued at $3,532,000. Duff & Phelps Investment Management Co. raised its position in Clearway Energy by 61.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 27,750 shares of the company’s stock worth $851,000 after buying an additional 10,564 shares during the last quarter. Yaupon Capital Management LP boosted its holdings in shares of Clearway Energy by 209.3% in the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after acquiring an additional 220,360 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Clearway Energy by 1,778.8% in the third quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock valued at $948,000 after acquiring an additional 29,262 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Price Performance

CWEN opened at $28.33 on Wednesday. The stock’s 50-day moving average price is $28.19 and its 200 day moving average price is $27.52. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.39 and a beta of 0.86. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. As a group, sell-side analysts expect that Clearway Energy will post 0.78 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, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 5.99%. Clearway Energy’s payout ratio is currently 163.46%.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.