Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $28.33

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.33.

A number of equities analysts have weighed in on CWEN shares. Royal Bank of Canada lowered their price target on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 27th. Marathon Capitl reaffirmed an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Morgan Stanley lifted their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Finally, Oppenheimer increased their price target on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, January 19th.

Clearway Energy Price Performance

CWEN opened at $23.08 on Tuesday. The stock has a market cap of $4.66 billion, a P/E ratio of 33.94 and a beta of 0.88. Clearway Energy has a 12 month low of $18.59 and a 12 month high of $31.72. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. The company has a fifty day simple moving average of $22.53 and a 200 day simple moving average of $23.59.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.15. The company had revenue of $249.00 million during the quarter, compared to the consensus estimate of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. On average, research analysts expect that Clearway Energy will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 6.98%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 29th. Clearway Energy’s payout ratio is presently 236.76%.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies bought 196,964 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, for a total transaction of $4,502,597.04. Following the completion of the transaction, the director now directly owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CWEN. PFG Investments LLC increased its position in shares of Clearway Energy by 12.4% during the 1st quarter. PFG Investments LLC now owns 82,731 shares of the company’s stock valued at $1,907,000 after purchasing an additional 9,110 shares during the last quarter. Abundance Wealth Counselors raised its stake in shares of Clearway Energy by 71.8% during the first quarter. Abundance Wealth Counselors now owns 29,678 shares of the company’s stock worth $684,000 after acquiring an additional 12,405 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Clearway Energy by 7.1% in the 1st quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock worth $240,000 after acquiring an additional 688 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Clearway Energy in the 1st quarter valued at $37,000. Finally, Scarborough Advisors LLC bought a new position in shares of Clearway Energy during the 4th quarter valued at $25,000. 38.03% of the stock is owned by institutional investors.

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.