Clearway Energy, Inc. (NYSE:CWEN) Receives $34.17 Average PT from Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $34.17.

A number of equities research analysts have recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. RWC Asset Management LLP raised its holdings in shares of Clearway Energy by 105.8% during the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock valued at $32,480,000 after acquiring an additional 642,322 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Clearway Energy by 2,840.3% during the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company’s stock worth $14,143,000 after purchasing an additional 525,450 shares in the last quarter. Voloridge Investment Management LLC raised its stake in Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock valued at $12,235,000 after purchasing an additional 336,668 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Clearway Energy by 85.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company’s stock valued at $13,932,000 after purchasing an additional 247,460 shares in the last quarter. Finally, Yaupon Capital Management LP boosted its stake in 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. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Performance

CWEN opened at $29.14 on Friday. Clearway Energy has a 12-month low of $20.79 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 firm has a market capitalization of $5.89 billion, a PE ratio of 28.02, a P/E/G ratio of 1.75 and a beta of 0.92. The firm has a 50 day moving average of $26.54 and a two-hundred day moving average of $27.46.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $256.00 million for the quarter, compared to analysts’ expectations of $299.73 million. On average, analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.4312 per share. This represents a $1.72 annualized dividend and a yield of 5.92%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 229.33%.

Clearway Energy Company Profile

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.