Clearway Energy, Inc. (NYSE:CWEN) Given Average Rating of “Hold” by Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.50.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Clearway Energy from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research note on Monday, March 8th. Seaport Global Securities upgraded Clearway Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, March 30th. Wolfe Research upgraded Clearway Energy from a “peer perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Wednesday, March 31st. Tudor Pickering assumed coverage on Clearway Energy in a research note on Thursday, April 29th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Clearway Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday.

Shares of CWEN stock traded down $0.10 during trading hours on Tuesday, reaching $28.45. The company had a trading volume of 674,521 shares, compared to its average volume of 894,162. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.21 and a current ratio of 1.28. Clearway Energy has a twelve month low of $19.73 and a twelve month high of $37.23. The company has a market capitalization of $5.74 billion, a P/E ratio of 79.03, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. The stock’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $30.24.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Monday, March 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.75). Clearway Energy had a net margin of 3.81% and a return on equity of 2.27%. The company had revenue of $280.00 million during the quarter, compared to analyst estimates of $296.00 million. As a group, equities analysts expect that Clearway Energy will post 1.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were given a $0.324 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.30 annualized dividend and a dividend yield of 4.56%. Clearway Energy’s dividend payout ratio (DPR) is presently -1,300.00%.

In other news, CEO Christopher S. Sotos bought 2,000 shares of the firm’s stock in a transaction dated Thursday, March 4th. The stock was bought at an average price of $26.26 per share, for a total transaction of $52,520.00. Following the transaction, the chief executive officer now owns 25,100 shares in the company, valued at $659,126. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CWEN. Perigon Wealth Management LLC bought a new stake in shares of Clearway Energy in the 4th quarter worth approximately $25,000. D Orazio & Associates Inc. bought a new stake in shares of Clearway Energy in the 4th quarter worth approximately $42,000. Diversified LLC bought a new stake in shares of Clearway Energy in the 4th quarter worth approximately $45,000. James Investment Research Inc. bought a new stake in shares of Clearway Energy in the 1st quarter worth approximately $210,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Clearway Energy in the 4th quarter worth approximately $220,000. Institutional investors own 36.98% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. As of March 2, 2021, it had approximately 4,200 net megawatts (MW) of installed wind and solar generation projects; and 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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Analyst Recommendations for Clearway Energy (NYSE:CWEN)

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