Clearway Energy, Inc. (CWEN) – What Are Investment Firms Thinking About This Stock?

Clearway Energy, Inc. (NYSE:CWEN) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.44.

A number of research analysts recently weighed in on CWEN shares. Morgan Stanley dropped their price objective on shares of Clearway Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, August 18th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Seaport Research Partners decreased their price target on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a research note on Friday, July 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research note on Friday, September 4th.

Clearway Energy Price Performance

CWEN opened at $30.23 on Friday. The stock’s 50-day moving average price is $31.51 and its 200 day moving average price is $35.30. Clearway Energy has a 12-month low of $28.57 and a 12-month high of $41.74. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 39.77 and a beta of 0.88. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.76. The company had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, sell-side analysts expect that Clearway Energy will post -0.37 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.4750 per share. This represents a $1.90 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.4676. Clearway Energy’s payout ratio is presently 250.00%.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently bought and sold shares of CWEN. Allied Private Wealth LLC acquired a new position in shares of Clearway Energy during the second quarter worth about $35,000. Eastern Bank acquired a new position in Clearway Energy in the second quarter valued at approximately $57,000. First Bancorp Inc ME purchased a new position in Clearway Energy in the second quarter valued at approximately $65,000. NBT Bank N A NY increased its stake in Clearway Energy by 6,969.7% in the first quarter. NBT Bank N A NY now owns 2,333 shares of the company’s stock valued at $92,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Clearway Energy during the second quarter worth approximately $83,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company’s operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway’s renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.