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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $43.00.

CWEN has been the topic of a number of recent research reports. UBS Group set a $45.00 price target on shares of Clearway Energy in a report on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a report on Thursday, April 9th. Finally, Morgan Stanley lifted their price target on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $39.74 on Friday. The firm has a market cap of $8.16 billion, a PE ratio of 993.65 and a beta of 0.86. The firm’s fifty day moving average is $39.30 and its 200-day moving average is $37.24. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy has a 52 week low of $27.67 and a 52 week high of $41.74.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The business had revenue of $354.00 million for the quarter, compared to analyst estimates of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. Sell-side analysts predict that Clearway Energy will post -0.87 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.4676 dividend. The ex-dividend date is Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a yield of 4.7%. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Hedge Funds Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in 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 buying an additional 705 shares during the period. National Bank of Canada FI lifted its holdings in Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the period. Huntington National Bank lifted its holdings in Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after buying an additional 600 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Clearway Energy in the second quarter valued at $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

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.