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

Clearway Energy, Inc. (NYSE:CWEN) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $44.00.

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Truist Financial started coverage on Clearway Energy in a research note on Monday, July 13th. They set a “buy” rating and a $43.00 target price on the stock. Morgan Stanley lifted their target price on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research note on Thursday, April 9th.

Institutional Trading of Clearway Energy

A number of hedge funds have recently bought and sold shares of CWEN. Clearbridge Investments LLC increased its position in Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after acquiring an additional 981,488 shares during the last quarter. Pacer Advisors Inc. boosted its position in Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock worth $33,169,000 after purchasing an additional 7,215 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Clearway Energy during the 4th quarter valued at about $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Clearway Energy by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock valued at $12,290,000 after purchasing an additional 5,142 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Clearway Energy by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 327,638 shares of the company’s stock valued at $9,256,000 after purchasing an additional 52,338 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Clearway Energy stock opened at $32.11 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $6.59 billion, a P/E ratio of 803.00 and a beta of 0.89. The stock’s 50 day moving average is $36.47 and its 200 day moving average is $37.54. Clearway Energy has a twelve month low of $27.67 and a twelve month high of $41.74.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The company had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. On average, equities research analysts predict that Clearway Energy will post -1.01 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.4676 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, June 1st. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Clearway Energy Company Profile

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.