Clearway Energy (NYSE:CWEN) Upgraded at TheStreet

TheStreet upgraded shares of Clearway Energy (NYSE:CWENGet Rating) from a c+ rating to a b+ rating in a research note released on Tuesday, TheStreetRatingsTable reports.

Several other research firms also recently commented on CWEN. Seaport Res Ptn restated a buy rating on shares of Clearway Energy in a report on Friday, May 13th. Morgan Stanley reduced their price objective on Clearway Energy from $37.00 to $35.00 and set an equal weight rating on the stock in a report on Thursday, July 21st. StockNews.com upgraded Clearway Energy from a hold rating to a buy rating in a report on Wednesday. CIBC assumed coverage on Clearway Energy in a report on Thursday, June 9th. They set a neutral rating and a $36.00 price objective on the stock. Finally, Roth Capital restated a buy rating on shares of Clearway Energy in a report on Friday, May 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $37.40.

Clearway Energy Price Performance

Shares of CWEN stock opened at $37.25 on Tuesday. Clearway Energy has a 52-week low of $29.61 and a 52-week high of $39.75. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.87 and a current ratio of 2.18. The firm has a market capitalization of $7.53 billion, a P/E ratio of 7.89, a P/E/G ratio of 3.45 and a beta of 0.64. The stock has a 50 day moving average price of $34.99 and a 200 day moving average price of $34.18.

Clearway Energy (NYSE:CWENGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $244.91 million. Clearway Energy had a negative return on equity of 13.81% and a net margin of 44.04%. As a group, sell-side analysts predict that Clearway Energy will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.87%. Clearway Energy’s dividend payout ratio (DPR) is currently 29.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWEN. Connor Clark & Lunn Investment Management Ltd. lifted its position in Clearway Energy by 117.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,580 shares of the company’s stock worth $2,389,000 after acquiring an additional 37,077 shares during the period. Abundance Wealth Counselors lifted its holdings in shares of Clearway Energy by 6.2% in the 2nd quarter. Abundance Wealth Counselors now owns 12,734 shares of the company’s stock valued at $444,000 after buying an additional 743 shares during the period. EFG Asset Management North America Corp. lifted its holdings in shares of Clearway Energy by 7.6% in the 2nd quarter. EFG Asset Management North America Corp. now owns 50,079 shares of the company’s stock valued at $1,745,000 after buying an additional 3,537 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Clearway Energy by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 33,199 shares of the company’s stock valued at $1,157,000 after buying an additional 4,397 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of Clearway Energy by 11.2% in the 2nd quarter. AE Wealth Management LLC now owns 39,782 shares of the company’s stock valued at $1,386,000 after buying an additional 4,002 shares during the period. 34.38% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

(Get Rating)

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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