Clearway Energy (NYSE:CWEN) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN) from a sell rating to a hold rating in a research note released on Wednesday.

Separately, Roth Mkm restated a “buy” rating and issued a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.17.

Clearway Energy Stock Up 1.9 %

CWEN stock opened at $27.29 on Wednesday. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The stock has a fifty day moving average of $26.20 and a 200-day moving average of $27.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.75 and a beta of 0.91.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. As a group, equities research analysts predict that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.4312 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 6.32%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is presently 229.33%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the sale, the director now owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.52% of the company’s stock.

Institutional Trading of Clearway Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Clearway Energy during the 3rd quarter valued at about $3,532,000. Hancock Whitney Corp purchased a new position in shares of Clearway Energy during the 3rd quarter valued at about $1,486,000. National Bank of Canada FI raised its holdings in shares of Clearway Energy by 1,778.8% during the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock valued at $948,000 after buying an additional 29,262 shares in the last quarter. abrdn plc raised its holdings in shares of Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after buying an additional 141,500 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Clearway Energy during the 4th quarter valued at about $325,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.