Clearway Energy, Inc. (NYSE:CWEN) Receives $28.33 Consensus Price Target from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $28.33.

Several equities analysts recently issued reports on CWEN shares. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Oppenheimer raised their price objective on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Morgan Stanley upped their target price on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Finally, Royal Bank of Canada cut their price objective on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 27th.

Insider Transactions at Clearway Energy

In other news, Director Se Totalenergies acquired 196,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the purchase, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently bought and sold shares of CWEN. Fulton Bank N.A. increased its holdings in shares of Clearway Energy by 7.1% in the 1st quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock valued at $240,000 after purchasing an additional 688 shares during the period. Scarborough Advisors LLC purchased a new stake in Clearway Energy in the 4th quarter worth approximately $25,000. Aveo Capital Partners LLC boosted its stake in shares of Clearway Energy by 5.6% during the 3rd quarter. Aveo Capital Partners LLC now owns 18,999 shares of the company’s stock valued at $402,000 after buying an additional 999 shares during the period. Spirit of America Management Corp NY grew its holdings in shares of Clearway Energy by 23.3% during the 3rd quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock valued at $112,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Clearway Energy by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 12,096 shares of the company’s stock worth $256,000 after acquiring an additional 1,481 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Clearway Energy stock opened at $23.46 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. Clearway Energy has a fifty-two week low of $18.59 and a fifty-two week high of $31.72. The stock has a fifty day moving average of $22.49 and a two-hundred day moving average of $23.63. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 34.50 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. The firm had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $282.45 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, analysts anticipate that Clearway Energy will post 0.92 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.87%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s payout ratio is presently 236.76%.

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.