Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $40.1429.

CWEN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. UBS Group set a $45.00 price objective on shares of Clearway Energy in a research report on Tuesday. Roth Mkm reiterated a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research note on Tuesday. 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 research note on Tuesday. Finally, Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th.

Clearway Energy Price Performance

Shares of CWEN opened at $38.25 on Friday. The company has a 50 day moving average of $36.07 and a two-hundred day moving average of $33.17. The company has a quick ratio of 1.44, a current ratio of 1.13 and a debt-to-equity ratio of 1.36. Clearway Energy has a twelve month low of $25.63 and a twelve month high of $41.51. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.55 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last issued 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). The business had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $334.42 million. Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. During the same quarter in the prior year, the company posted ($0.41) EPS. As a group, analysts predict that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.4602 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 4.8%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is presently 77.35%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC purchased a new position in Clearway Energy during the third quarter valued at approximately $6,473,000. Foresight Group Ltd Liability Partnership grew its stake in shares of Clearway Energy by 18.6% during the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 418,235 shares of the company’s stock worth $11,815,000 after purchasing an additional 65,522 shares during the period. Nordea Investment Management AB grew its stake in shares of Clearway Energy by 33.6% during the 3rd quarter. Nordea Investment Management AB now owns 328,235 shares of the company’s stock worth $9,250,000 after purchasing an additional 82,621 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Clearway Energy during the 3rd quarter valued at approximately $1,244,000. Finally, AXQ Capital LP lifted its stake in shares of Clearway Energy by 130.1% in the 2nd quarter. AXQ Capital LP now owns 19,919 shares of the company’s stock valued at $637,000 after purchasing an additional 11,264 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

About Clearway Energy

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.