Clearway Energy, Inc. (NYSE:CWEN) Receives Average Rating of “Buy” from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received a consensus recommendation of “Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $35.50.

A number of brokerages have recently issued reports on CWEN. Roth Mkm restated a “buy” rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price target for the company. Finally, Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, May 30th.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently added to or reduced their stakes in CWEN. State of New Jersey Common Pension Fund D grew its holdings in Clearway Energy by 11.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 75,564 shares of the company’s stock worth $1,965,000 after acquiring an additional 7,703 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Clearway Energy by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock worth $236,000 after acquiring an additional 414 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new stake in Clearway Energy during the 4th quarter worth about $361,000. ING Groep NV grew its holdings in Clearway Energy by 938.9% during the 4th quarter. ING Groep NV now owns 77,400 shares of the company’s stock worth $2,012,000 after acquiring an additional 69,950 shares during the last quarter. Finally, RWC Asset Management LLP grew its holdings in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock worth $32,480,000 after acquiring an additional 642,322 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE CWEN opened at $31.73 on Friday. Clearway Energy has a 1 year low of $24.02 and a 1 year high of $32.64. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. The company has a market cap of $6.41 billion, a P/E ratio of 39.66, a P/E/G ratio of 0.75 and a beta of 0.87. The company has a fifty day simple moving average of $29.88 and a 200 day simple moving average of $28.15.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $305.74 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The business’s revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts predict that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.4384 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a yield of 5.53%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s dividend payout ratio is currently 218.75%.

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.