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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.71.

Several equities analysts have weighed in on CWEN shares. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd.

Clearway Energy Stock Up 0.1 %

Shares of NYSE:CWEN opened at $29.96 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a 50 day moving average of $28.05 and a 200-day moving average of $25.85. Clearway Energy has a one year low of $18.59 and a one year high of $30.35.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue was down 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Clearway Energy will post 0.9 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 5.57%. This is an increase 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 (DPR) is currently 251.52%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Dana Investment Advisors Inc. grew its holdings in Clearway Energy by 12.0% during the second quarter. Dana Investment Advisors Inc. now owns 43,445 shares of the company’s stock worth $1,073,000 after purchasing an additional 4,655 shares during the period. Quarry LP raised its stake in 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 acquiring an additional 843 shares during the period. Creative Planning lifted its holdings in Clearway Energy by 25.3% during the 2nd quarter. Creative Planning now owns 13,316 shares of the company’s stock valued at $329,000 after purchasing an additional 2,691 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Clearway Energy during the second quarter worth $1,595,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors and hedge funds.

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.