Clearway Energy, Inc. (NYSE:CWEN) Receives $34.71 Average PT from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $34.71.

Several research firms recently commented on CWEN. Deutsche Bank Aktiengesellschaft initiated 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. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CWEN. Tortoise Capital Advisors L.L.C. raised its stake in shares of Clearway Energy by 7.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company’s stock valued at $72,772,000 after acquiring an additional 186,544 shares in the last quarter. RWC Asset Management LLP grew its holdings in Clearway Energy by 105.8% during the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock valued at $32,480,000 after purchasing an additional 642,322 shares during the last quarter. abrdn plc raised its position in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after purchasing an additional 141,500 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in shares of Clearway Energy by 2.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company’s stock worth $15,075,000 after buying an additional 14,296 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company’s stock worth $14,143,000 after buying an additional 525,450 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $28.05 on Tuesday. Clearway Energy has a 12 month low of $21.72 and a 12 month high of $31.09. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.67 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. The business has a fifty day simple moving average of $28.08 and a 200-day simple moving average of $27.54.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. On average, sell-side analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.4312 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.15%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is currently 229.33%.

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.