Analysts Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $44.00

Clearway Energy, Inc. (NYSE:CWEN) has been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $44.00.

Several research analysts have issued reports on the company. Zacks Research cut Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. UBS Group increased their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Clearway Energy from a “sell” rating to a “strong sell” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a research report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a research report on Friday, July 17th.

Institutional Trading of Clearway Energy

Several hedge funds have recently bought and sold shares of CWEN. Clearbridge Investments LLC increased its position in Clearway Energy by 26.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock worth $154,890,000 after buying an additional 981,488 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Clearway Energy by 0.9% during the 1st quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after buying an additional 7,215 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Clearway Energy during the 4th quarter valued at approximately $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Clearway Energy by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock worth $12,290,000 after acquiring an additional 5,142 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Clearway Energy by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 327,638 shares of the company’s stock worth $9,256,000 after acquiring an additional 52,338 shares during the period. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE CWEN opened at $31.76 on Monday. The business’s fifty day moving average price is $35.89 and its 200-day moving average price is $37.51. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 794.27 and a beta of 0.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.74.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The firm had revenue of $354.00 million during the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, equities analysts predict that Clearway Energy will post -1.03 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.4676 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 5.9%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is 4,675.00%.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.