Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $28.33

Clearway Energy, Inc. (NYSE:CWEN) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.33.

A number of analysts have issued reports on CWEN shares. Royal Bank of Canada reduced their price target on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 27th. Morgan Stanley boosted their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Finally, Oppenheimer boosted their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th.

Insider Activity at Clearway Energy

In other news, Director Se Totalenergies purchased 196,964 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the acquisition, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearway Energy

Several large investors have recently added to or reduced their stakes in CWEN. Scarborough Advisors LLC purchased a new stake in Clearway Energy in the 4th quarter valued at about $25,000. Mather Group LLC. purchased a new stake in shares of Clearway Energy in the 1st quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Clearway Energy in the 3rd quarter worth approximately $42,000. Avalon Trust Co purchased a new stake in shares of Clearway Energy in the 4th quarter worth approximately $47,000. Finally, Spirit of America Management Corp NY lifted its position in shares of Clearway Energy by 23.3% in the 3rd quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after purchasing an additional 1,000 shares during the period. 38.03% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $23.14 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The company has a market cap of $4.68 billion, a P/E ratio of 34.03 and a beta of 0.88. The firm’s fifty day moving average is $22.49 and its two-hundred day moving average is $23.61. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $31.72.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The company had revenue of $249.00 million for the quarter, compared to the consensus estimate of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. Clearway Energy’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, analysts anticipate that Clearway Energy will post 0.92 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.403 per share. This represents a $1.61 annualized dividend and a yield of 6.97%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio is presently 236.76%.

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.