Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Clearway Energy, Inc. (NYSE:CWENGet Free Report) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.33.

A number of research firms recently issued reports on CWEN. Royal Bank of Canada cut their price target on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Morgan Stanley boosted their price objective on Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Oppenheimer boosted their price objective on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th.

View Our Latest Report on CWEN

Clearway Energy Stock Up 2.0 %

Shares of NYSE:CWEN opened at $23.53 on Friday. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $32.24. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The company’s fifty day moving average is $22.77 and its 200-day moving average is $23.48. The company has a market capitalization of $4.75 billion, a PE ratio of 34.60 and a beta of 0.87.

Clearway Energy (NYSE:CWENGet Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The company had revenue of $249.00 million for the quarter, compared to the consensus estimate of $282.45 million. During the same quarter in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was down 18.4% compared to the same quarter last year. Equities research analysts predict that Clearway Energy will post 0.93 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.403 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.85%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio is currently 236.76%.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies purchased 196,964 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average price of $22.86 per share, for a total transaction of $4,502,597.04. Following the purchase, the director now owns 295,235 shares in the company, valued at $6,749,072.10. The acquisition 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 company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of Clearway Energy during the 4th quarter worth $25,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Clearway Energy during the 4th quarter worth $941,000. FIL Ltd grew its holdings in shares of Clearway Energy by 47.7% during the 4th quarter. FIL Ltd now owns 75,752 shares of the company’s stock worth $2,078,000 after purchasing an additional 24,473 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Clearway Energy during the 4th quarter worth $253,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Clearway Energy during the 4th quarter worth $203,000. Institutional investors own 38.03% of the company’s stock.

About Clearway Energy

(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.

Further Reading

Analyst Recommendations for Clearway Energy (NYSE:CWEN)

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