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

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $33.00.

A number of research analysts have recently commented on CWEN shares. Jefferies Financial Group started coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Roth Mkm restated a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. BNP Paribas started 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 on the stock. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st.

Clearway Energy Stock Up 0.5 %

Shares of Clearway Energy stock opened at $27.81 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy has a 52-week low of $20.63 and a 52-week high of $30.92. The company has a market capitalization of $5.62 billion, a P/E ratio of 42.14, a P/E/G ratio of 2.35 and a beta of 0.86. The company has a 50 day moving average of $28.87 and a 200 day moving average of $26.60.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $424.59 million. During the same period last year, the firm posted $0.33 earnings per share. Clearway Energy’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, research analysts forecast that Clearway Energy will post 0.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.00%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is presently 251.52%.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in Clearway Energy during the 4th quarter worth approximately $25,000. Mather Group LLC. purchased a new position in Clearway Energy in the 1st quarter valued at $37,000. Fulton Bank N.A. increased its stake in Clearway Energy by 7.1% in the 1st quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock valued at $240,000 after buying an additional 688 shares during the period. Abundance Wealth Counselors raised its position in Clearway Energy by 71.8% during the 1st quarter. Abundance Wealth Counselors now owns 29,678 shares of the company’s stock worth $684,000 after buying an additional 12,405 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Clearway Energy by 11.0% in the 1st quarter. Nordea Investment Management AB now owns 171,212 shares of the company’s stock worth $3,892,000 after acquiring an additional 17,014 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

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.