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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.00.

A number of equities analysts recently issued reports on CWEN shares. Weiss Ratings cut Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on Clearway Energy in a research report on Thursday, April 9th. Morgan Stanley upped their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. UBS Group boosted their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th.

Institutional Trading of Clearway Energy

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after buying an additional 705 shares during the period. National Bank of Canada FI increased its position in shares of Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Huntington National Bank raised its stake in shares of Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 412 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Clearway Energy during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Up 1.1%

Clearway Energy stock opened at $33.48 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The stock has a market cap of $6.87 billion, a PE ratio of 835.83 and a beta of 0.89. Clearway Energy has a one year low of $27.67 and a one year high of $41.74. The stock has a fifty day moving average of $37.92 and a 200 day moving average of $37.51.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The company had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. As a group, sell-side analysts predict that Clearway Energy will post -0.87 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.4676 per share. This represents a $1.87 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s dividend payout ratio is currently 4,675.00%.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.