Clearway Energy, Inc. (NYSE:CWEN) Receives $31.17 Average Price Target from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has received an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $31.71.

Several research analysts have weighed in on CWEN shares. Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday. They set a “buy” rating and a $35.00 price target on the stock. Roth Mkm restated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CWEN. ING Groep NV bought a new position in Clearway Energy during the 4th quarter worth $850,000. Tidal Investments LLC raised its stake in Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after purchasing an additional 22,059 shares in the last quarter. Sei Investments Co. bought a new stake in Clearway Energy in the 1st quarter valued at about $1,010,000. Qsemble Capital Management LP bought a new stake in Clearway Energy in the 1st quarter valued at about $516,000. Finally, Friedenthal Financial acquired a new position in shares of Clearway Energy during the 2nd quarter worth approximately $712,000. 38.03% of the stock is owned by institutional investors.

Clearway Energy Stock Up 1.8 %

Clearway Energy stock opened at $29.60 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. Clearway Energy has a 1-year low of $18.59 and a 1-year high of $29.94. The company has a fifty day simple moving average of $27.86 and a 200 day simple moving average of $25.74. The company has a market cap of $5.98 billion, a P/E ratio of 44.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.23). The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. Clearway Energy’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. Research analysts anticipate that Clearway Energy will post 0.9 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.64%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 251.52%.

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.