Clearway Energy (NYSE:CWEN) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Clearway Energy (NYSE:CWENFree Report) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other equities research analysts also recently weighed in on CWEN. Roth Mkm raised their price objective on Clearway Energy from $29.00 to $30.00 and gave the company a buy rating in a research report on Monday. Evercore ISI upped their price target on Clearway Energy from $25.00 to $30.00 and gave the stock an outperform rating in a research report on Tuesday. Morgan Stanley raised their price target on Clearway Energy from $23.00 to $25.00 and gave the stock an equal weight rating in a report on Friday, March 1st. Royal Bank of Canada lowered their target price on shares of Clearway Energy from $26.00 to $25.00 and set a sector perform rating for the company in a research note on Tuesday, February 27th. Finally, Oppenheimer raised their target price on Clearway Energy from $33.00 to $37.00 and gave the stock an outperform rating in a research note on Friday, January 19th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $29.00.

View Our Latest Stock Analysis on Clearway Energy

Clearway Energy Trading Up 0.1 %

NYSE CWEN opened at $27.49 on Wednesday. Clearway Energy has a 12 month low of $18.59 and a 12 month high of $31.72. The company’s 50-day moving average price is $23.21 and its 200-day moving average price is $23.94. The stock has a market cap of $5.56 billion, a PE ratio of 41.65 and a beta of 0.86. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 1.50.

Clearway Energy (NYSE:CWENGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.25. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. The company had revenue of $263.00 million for the quarter, compared to analysts’ expectations of $286.26 million. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities research analysts forecast that Clearway Energy will post 0.94 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 17th. Investors of record on Monday, June 3rd will be paid a $0.41 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend is Monday, June 3rd. Clearway Energy’s payout ratio is currently 243.94%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies purchased 196,964 shares of the stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $22.86 per share, for a total transaction of $4,502,597.04. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clearway Energy

Hedge funds have recently modified their holdings of the business. Meritage Portfolio Management boosted its holdings in Clearway Energy by 163.6% in the 4th quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock valued at $3,731,000 after purchasing an additional 84,402 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in Clearway Energy by 70.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 18,665 shares of the company’s stock valued at $512,000 after buying an additional 7,742 shares during the last quarter. Aigen Investment Management LP raised its stake in shares of Clearway Energy by 289.0% in the 3rd quarter. Aigen Investment Management LP now owns 44,041 shares of the company’s stock valued at $932,000 after acquiring an additional 32,720 shares during the period. Prudent Man Advisors LLC purchased a new position in shares of Clearway Energy during the third quarter worth $687,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Clearway Energy by 132.7% in the 4th quarter. Pacer Advisors Inc. now owns 10,589 shares of the company’s stock valued at $290,000 after buying an additional 6,039 shares during the period. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

(Get Free Report)

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.

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