Clearway Energy, Inc. (NYSE:CWEN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $31.17.

CWEN has been the subject of a number of research reports. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Evercore ISI boosted their price target on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in Clearway Energy during the 4th quarter valued at $25,000. Mather Group LLC. bought a new stake in Clearway Energy during the 1st quarter valued at $37,000. Avalon Trust Co bought a new stake in Clearway Energy during the 4th quarter valued at $47,000. Abich Financial Wealth Management LLC raised its holdings in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Performance

Clearway Energy stock opened at $29.16 on Monday. The firm’s 50 day simple moving average is $26.51 and its 200 day simple moving average is $24.92. The company has a current ratio of 1.46, a quick ratio of 1.65 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $5.89 billion, a PE ratio of 44.18 and a beta of 0.85. Clearway Energy has a 1-year low of $18.59 and a 1-year high of $29.34.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. During the same period last year, the company posted $0.33 EPS. The business’s revenue was down 9.9% on a year-over-year basis. As a group, analysts expect that Clearway Energy will post 0.74 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.417 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.72%. Clearway Energy’s dividend payout ratio is 251.52%.

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.