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

Clearway Energy, Inc. (NYSE:CWEN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.33.

Several equities research analysts recently weighed in on the company. Oppenheimer upped their price target on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Royal Bank of Canada lowered their price target on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. Morgan Stanley boosted their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Marathon Capitl reaffirmed an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Finally, StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st.

Insider Activity

In other Clearway Energy news, Director Se Totalenergies acquired 196,964 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the transaction, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CWEN. Fulton Bank N.A. lifted its position in Clearway Energy by 7.1% during the first quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock valued at $240,000 after purchasing an additional 688 shares during the period. Scarborough Advisors LLC bought a new position in shares of Clearway Energy during the 4th quarter valued at $25,000. Aveo Capital Partners LLC boosted its stake in shares of Clearway Energy by 5.6% in the 3rd quarter. Aveo Capital Partners LLC now owns 18,999 shares of the company’s stock worth $402,000 after buying an additional 999 shares during the last quarter. Spirit of America Management Corp NY grew its holdings in shares of Clearway Energy by 23.3% in the third quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after acquiring an additional 1,000 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Clearway Energy by 14.0% during the third quarter. Commonwealth Equity Services LLC now owns 12,096 shares of the company’s stock valued at $256,000 after acquiring an additional 1,481 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $23.06 on Tuesday. Clearway Energy has a 1 year low of $18.59 and a 1 year high of $31.72. The stock has a market capitalization of $4.66 billion, a P/E ratio of 33.91 and a beta of 0.87. The company’s 50-day moving average is $22.51 and its 200 day moving average is $23.58. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.72 and a quick ratio of 1.66.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.15. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The business had revenue of $249.00 million for the quarter, compared to analysts’ expectations of $282.45 million. During the same period in the previous year, the firm posted $0.10 EPS. The business’s revenue was down 18.4% on a year-over-year basis. On average, sell-side analysts expect that Clearway Energy will post 0.92 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.403 dividend. This represents a $1.61 annualized dividend and a dividend yield of 6.99%. The ex-dividend date was Thursday, February 29th. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio is currently 236.76%.

About Clearway Energy

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.