Clearway Energy (NYSE:CWEN) PT Raised to $34.00 at CIBC

Clearway Energy (NYSE:CWEN) had its price target boosted by CIBC from $33.00 to $34.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperformer rating on the stock.

CWEN has been the subject of several other reports. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. BNP Paribas began 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. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Down 2.9 %

Shares of NYSE CWEN opened at $26.20 on Tuesday. The stock has a market capitalization of $5.30 billion, a P/E ratio of 34.47, a PEG ratio of 2.26 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. Clearway Energy has a one year low of $20.63 and a one year high of $30.92. The firm’s 50 day simple moving average is $28.64 and its two-hundred day simple moving average is $26.77.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, analysts expect that Clearway Energy will post 0.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.417 dividend. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 6.37%. Clearway Energy’s dividend payout ratio (DPR) is 219.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in shares of Clearway Energy during the first quarter valued at approximately $37,000. Abich Financial Wealth Management LLC lifted its position in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. boosted its holdings in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. 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 worth $60,000 after buying an additional 843 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

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.