Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Price Target at $33.13

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $33.13.

A number of brokerages recently commented on CWEN. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Jefferies Financial Group began coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. Roth Mkm restated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. CIBC raised their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company.

Clearway Energy Trading Up 1.0 %

Shares of NYSE CWEN opened at $26.95 on Friday. The company’s 50 day simple moving average is $28.24 and its 200 day simple moving average is $27.21. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a market capitalization of $5.45 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.36 and a beta of 0.87. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts predict that Clearway Energy will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is 162.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fulton Bank N.A. grew its position in shares of Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock valued at $374,000 after acquiring an additional 449 shares during the period. Whittier Trust Co. boosted its holdings in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Clearway Energy by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after buying an additional 654 shares during the period. Finally, Congress Asset Management Co. boosted its holdings in shares of Clearway Energy by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock worth $5,806,000 after buying an additional 699 shares during the period. Institutional investors own 38.03% of the company’s stock.

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.