Clearway Energy, Inc. (NYSE:CWEN) Receives $43.00 Consensus Target Price from Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $43.00.

Several brokerages have recently issued reports on CWEN. Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Morgan Stanley upped their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a research report on Thursday, April 9th. Roth Mkm restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Weiss Ratings cut shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th.

Institutional Trading of Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CWEN. Clearbridge Investments LLC raised its holdings in Clearway Energy by 26.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after buying an additional 981,488 shares during the period. Wellington Management Group LLP purchased a new stake in Clearway Energy during the 4th quarter valued at $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after buying an additional 394,579 shares during the period. Capula Management Ltd purchased a new stake in Clearway Energy during the 3rd quarter valued at $4,646,000. Finally, Pacer Advisors Inc. raised its position in Clearway Energy by 20.1% in the 4th quarter. Pacer Advisors Inc. now owns 837,006 shares of the company’s stock worth $27,839,000 after purchasing an additional 140,006 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Up 0.9%

Shares of CWEN opened at $37.74 on Friday. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 943.81 and a beta of 0.86. Clearway Energy has a 1 year low of $27.67 and a 1 year high of $41.74. The business’s 50 day simple moving average is $39.24 and its 200-day simple moving average is $37.32. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

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

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.4676 per share. This represents a $1.87 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, June 1st. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is currently 4,675.00%.

Clearway Energy Company Profile

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.