Clearway Energy, Inc. (NYSE:CWEN) Receives $33.13 Average PT from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.13.

CWEN has been the topic of a number of research analyst reports. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. BNP Paribas started coverage on Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. Finally, CIBC lifted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd.

Clearway Energy Price Performance

NYSE:CWEN opened at $27.56 on Friday. The firm’s fifty day moving average is $28.23 and its two-hundred day moving average is $27.24. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.38 and a beta of 0.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy has a one year low of $20.63 and a one year high of $30.92.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same period last year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. Research analysts expect 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. Shareholders of record on Monday, December 2nd will be issued a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 160.58%.

Hedge Funds Weigh In On Clearway Energy

A number of large investors have recently modified their holdings of CWEN. Tidal Investments LLC lifted its stake in shares of Clearway Energy by 74.5% in the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after purchasing an additional 22,059 shares during the period. Sei Investments Co. purchased a new position in Clearway Energy in the first quarter valued at about $1,010,000. Qsemble Capital Management LP purchased a new position in Clearway Energy in the first quarter valued at about $516,000. Friedenthal Financial acquired a new stake in shares of Clearway Energy during the 2nd quarter valued at approximately $712,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Clearway Energy during the 1st quarter worth approximately $747,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.