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

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.13.

Several research analysts have commented on CWEN shares. BNP Paribas initiated coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st.

Clearway Energy Stock Performance

Clearway Energy stock opened at $27.56 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The company’s 50-day moving average is $28.23 and its 200 day moving average is $27.24. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The firm has a market capitalization of $5.57 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. 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 firm posted $0.03 earnings per share. Research analysts forecast that Clearway Energy will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.15%. Clearway Energy’s dividend payout ratio (DPR) is presently 160.58%.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors have recently added to or reduced their stakes in CWEN. Significant Wealth Partners LLC purchased a new position in shares of Clearway Energy in the 1st quarter valued at approximately $480,000. Sei Investments Co. purchased a new position in shares of Clearway Energy in the first quarter worth $1,010,000. Meeder Asset Management Inc. acquired a new stake in shares of Clearway Energy during the first quarter worth $747,000. Qsemble Capital Management LP purchased a new stake in shares of Clearway Energy during the first quarter valued at $516,000. Finally, Everence Capital Management Inc. increased its position in shares of Clearway Energy by 17.9% in the 1st quarter. Everence Capital Management Inc. now owns 28,910 shares of the company’s stock valued at $666,000 after acquiring an additional 4,380 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

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.