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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average recommendation of “Buy” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $43.7778.

CWEN has been the topic of a number of recent analyst reports. UBS Group upped their price objective on Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Evercore restated a “positive” rating and set a $40.00 target price on shares of Clearway Energy in a research report on Monday, August 17th. Truist Financial began coverage on shares of Clearway Energy in a research note on Monday, July 13th. They set a “buy” rating and a $43.00 price target on the stock. Zacks Research upgraded shares of Clearway Energy from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $30.26 on Tuesday. The stock’s 50-day moving average is $32.68 and its two-hundred day moving average is $36.40. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy has a 1 year low of $27.67 and a 1 year high of $41.74. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 39.82 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Analysts predict that Clearway Energy will post -0.5 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 6.3%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 1st. Clearway Energy’s dividend payout ratio is 250.00%.

Institutional Investors Weigh In On Clearway Energy

Institutional investors have recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in Clearway Energy during the first quarter worth $1,427,000. Sanctuary Advisors LLC increased its position in Clearway Energy by 31.3% during the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after purchasing an additional 58,138 shares in the last quarter. Squarepoint Ops LLC increased its position in Clearway Energy by 276.7% during the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Clearway Energy in the 4th quarter valued at about $759,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Clearway Energy in the 2nd quarter valued at about $1,229,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.