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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $32.57.

A number of research firms have recently issued reports on CWEN. CIBC raised their target price 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. BNP Paribas started coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th.

Insider Buying and Selling

In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the sale, the director now directly owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Clearway Energy

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its stake in shares of Clearway Energy by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after acquiring an additional 384,837 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Clearway Energy by 4.6% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company’s stock valued at $12,948,000 after purchasing an additional 22,000 shares during the last quarter. abrdn plc boosted its stake in shares of Clearway Energy by 8.7% during the third quarter. abrdn plc now owns 461,200 shares of the company’s stock valued at $14,150,000 after purchasing an additional 37,100 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Clearway Energy by 144.8% during the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after purchasing an additional 254,486 shares during the last quarter. Finally, Yaupon Capital Management LP increased its stake in shares of Clearway Energy by 209.3% in the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after buying an additional 220,360 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN opened at $24.63 on Thursday. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.76 and a beta of 0.88. The stock’s 50 day moving average price is $27.03 and its two-hundred day moving average price is $27.54. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results 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 net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. On average, analysts anticipate that Clearway Energy will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.424 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.89%. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

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.