Clearway Energy, Inc. (NYSE:CWEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $33.13.

CWEN has been the topic of a number of research reports. CIBC raised their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, BNP Paribas initiated coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price on the stock.

Insider Buying and Selling

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the sale, the director now directly owns 8,153 shares in the company, valued at $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Clearway Energy in the third quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $71,000. Quarry LP grew its position in shares of Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in Clearway Energy in the third quarter valued at $106,000. Finally, Recurrent Investment Advisors LLC purchased a new stake in Clearway Energy in the third quarter valued at $202,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Trading Down 0.6 %

Clearway Energy stock opened at $26.14 on Friday. The firm has a market cap of $5.28 billion, a PE ratio of 25.13, a P/E/G ratio of 1.24 and a beta of 0.86. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The stock’s 50 day simple moving average is $27.52 and its two-hundred day simple moving average is $27.50. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Analysts anticipate that Clearway Energy will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.424 dividend. This represents a $1.70 annualized dividend and a yield of 6.49%. The ex-dividend date was Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is currently 162.50%.

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.