Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $40.14

Clearway Energy, Inc. (NYSE:CWEN) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $40.1429.

Several equities analysts recently commented on CWEN shares. Royal Bank Of Canada upped their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, January 21st. Wall Street Zen downgraded Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, UBS Group set a $45.00 price objective on Clearway Energy in a research report on Tuesday, February 24th.

Institutional Investors Weigh In On Clearway Energy

Several large investors have recently added to or reduced their stakes in CWEN. Huntington National Bank increased its position in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 412 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI grew its stake in Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. purchased a new position in Clearway Energy during the 3rd quarter worth $29,000. Finally, Geneos Wealth Management Inc. increased its holdings in Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

NYSE:CWEN opened at $37.44 on Friday. The stock’s fifty day moving average is $36.53 and its 200 day moving average is $33.46. Clearway Energy has a fifty-two week low of $25.63 and a fifty-two week high of $41.51. The firm has a market capitalization of $7.63 billion, a PE ratio of 26.37, a PEG ratio of 1.64 and a beta of 0.95. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The firm had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $334.42 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. On average, sell-side analysts anticipate that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.4602 dividend. The ex-dividend date is Monday, March 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.9%. Clearway Energy’s dividend payout ratio (DPR) is currently 129.58%.

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.