Clearway Energy (NYSE:CWEN) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN) from a sell rating to a hold rating in a research note released on Friday morning.

Other research analysts have also recently issued research reports about the stock. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Roth Mkm reiterated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group initiated coverage on Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Stock Up 1.3 %

CWEN stock opened at $28.72 on Friday. The stock has a market capitalization of $5.81 billion, a P/E ratio of 27.60, a P/E/G ratio of 2.51 and a beta of 0.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The business has a fifty day moving average price of $28.21 and a 200-day moving average price of $27.42.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS 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 during the quarter, compared to the consensus estimate of $417.55 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. Equities analysts forecast that Clearway Energy will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 5.91%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio is currently 160.58%.

Hedge Funds Weigh In On Clearway Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Abich Financial Wealth Management LLC grew its holdings in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Clearway Energy in the third quarter worth approximately $50,000. Quarry LP lifted its stake in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Clearway Energy during the 3rd quarter valued at $71,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

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.