Clearway Energy, Inc. (CWEN) – What Are Investment Firms Thinking About This Stock?

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.44.

A number of analysts have recently issued reports on CWEN shares. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Evercore reaffirmed a “positive” rating and issued a $40.00 target price on shares of Clearway Energy in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. UBS Group boosted their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a report on Friday, July 17th.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. increased its position in shares of Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after acquiring an additional 7,215 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Clearway Energy by 12.9% during the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock worth $10,126,000 after purchasing an additional 33,922 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after buying an additional 58,138 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Clearway Energy by 276.7% in the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock valued at $7,087,000 after buying an additional 152,292 shares in the last quarter. Finally, Ardsley Advisory Partners LP increased its holdings in Clearway Energy by 20.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 150,000 shares of the company’s stock worth $4,989,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Performance

NYSE CWEN opened at $29.56 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 38.89 and a beta of 0.88. The company’s fifty day moving average is $31.43 and its two-hundred day moving average is $35.09. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The company had revenue of $481.00 million for the quarter, compared to the consensus estimate of $473.92 million. Equities research analysts forecast that Clearway Energy will post -0.37 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.4750 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.90 dividend on an annualized basis and a yield of 6.4%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.4676. Clearway Energy’s payout ratio is 250.00%.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company’s operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway’s renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.