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

Clearway Energy, Inc. (NYSE:CWEN) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on 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 issued reports on CWEN. Roth Mkm restated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Wall Street Zen downgraded Clearway Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on Clearway Energy in a research report on Thursday, April 9th. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research report on Monday. Finally, Morgan Stanley restated an “overweight” rating on shares of Clearway Energy in a research report on Tuesday, April 14th.

Institutional Trading of Clearway Energy

Several institutional investors have recently made changes to their positions in CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Clearway Energy by 12.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after buying an additional 3,787 shares during the period. Jump Financial LLC purchased a new stake in Clearway Energy during the 2nd quarter worth $215,000. Cerity Partners LLC boosted its position in Clearway Energy by 1.8% during the 2nd quarter. Cerity Partners LLC now owns 68,489 shares of the company’s stock worth $2,192,000 after purchasing an additional 1,180 shares during the period. Brevan Howard Capital Management LP boosted its position in Clearway Energy by 233.7% during the 2nd quarter. Brevan Howard Capital Management LP now owns 45,896 shares of the company’s stock worth $1,469,000 after purchasing an additional 32,144 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Clearway Energy during the 2nd quarter worth $2,352,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

Shares of CWEN opened at $39.63 on Friday. Clearway Energy has a twelve month low of $27.67 and a twelve month high of $41.51. The stock’s 50 day moving average is $39.15 and its two-hundred day moving average is $35.99. The firm has a market capitalization of $8.13 billion, a PE ratio of 27.91, a P/E/G ratio of 15.06 and a beta of 0.91. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The company had revenue of $310.00 million for the quarter, compared to analyst estimates of $334.42 million. During the same quarter in the previous year, the business posted ($0.41) earnings per share. Research analysts anticipate that Clearway Energy will post 0.23 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.4602 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, March 2nd. This represents a $1.84 annualized dividend and a yield of 4.6%. Clearway Energy’s payout ratio is presently 129.58%.

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.