Analysts Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $36.57

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $36.5714.

Several research analysts have recently issued reports on CWEN shares. Cibc World Mkts downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. CIBC upped their price objective on Clearway Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group upped their price objective on Clearway Energy from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd.

Clearway Energy Stock Up 0.4%

CWEN stock opened at $32.02 on Friday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 1.26 and a beta of 0.89. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. Clearway Energy has a 12 month low of $24.40 and a 12 month high of $33.22. The firm has a 50-day moving average price of $29.85 and a 200-day moving average price of $30.34.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39). The company had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. As a group, equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.4456 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Clearway Energy’s payout ratio is currently 273.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after purchasing an additional 394,579 shares during the period. Gotham Asset Management LLC increased its position in Clearway Energy by 79.1% during the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock valued at $24,665,000 after purchasing an additional 359,876 shares during the period. Northside Capital Management LLC acquired a new stake in Clearway Energy during the 2nd quarter valued at approximately $8,847,000. Synergy Asset Management LLC acquired a new stake in Clearway Energy during the 3rd quarter valued at approximately $6,473,000. Finally, Nordea Investment Management AB increased its position in Clearway Energy by 325.3% during the 2nd quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after purchasing an additional 187,861 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

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.