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

Clearway Energy, Inc. (NYSE:CWEN) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $33.13.

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. BNP Paribas assumed coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Finally, CIBC increased their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd.

Clearway Energy Trading Down 1.3 %

Shares of CWEN stock opened at $28.24 on Wednesday. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $28.05 and its 200-day moving average price is $27.55. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.28 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the business posted $0.03 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. Equities research analysts predict that Clearway Energy will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.01%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently bought and sold shares of CWEN. 1832 Asset Management L.P. acquired a new stake in shares of Clearway Energy in the 2nd quarter worth $32,310,000. Point72 Asset Management L.P. boosted its position in Clearway Energy by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after purchasing an additional 384,837 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after acquiring an additional 254,486 shares during the last quarter. Yaupon Capital Management LP raised its position in shares of Clearway Energy by 209.3% during the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock worth $9,991,000 after purchasing an additional 220,360 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Clearway Energy by 130.7% in the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock worth $6,722,000 after acquiring an additional 154,239 shares during the last quarter. Institutional investors and hedge funds 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.