Clearway Energy, Inc. (NYSE:CWEN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $40.50.

A number of research analysts have issued reports on CWEN shares. Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada raised their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, January 21st. Wall Street Zen downgraded Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. Finally, Roth Mkm reissued a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a report on Tuesday, February 24th.

Clearway Energy Stock Performance

CWEN stock opened at $38.90 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.70 and a beta of 0.95. Clearway Energy has a 1 year low of $25.63 and a 1 year high of $41.51. The stock’s fifty day moving average is $38.26 and its two-hundred day moving average is $34.63.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The firm had revenue of $310.00 million for the quarter, compared to the consensus estimate of $334.42 million. During the same quarter in the prior year, the company posted ($0.41) EPS. On average, research analysts predict that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.4602 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 4.7%. Clearway Energy’s dividend payout ratio (DPR) is currently 129.58%.

Institutional Investors Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI increased its stake in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the period. Mather Group LLC. acquired a new position in Clearway Energy during the 3rd quarter valued at about $29,000. Huntington National Bank raised its position in shares of Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after buying an additional 412 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after buying an additional 600 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

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.