Clearway Energy, Inc. (NYSE:CWEN) Given Consensus Rating of “Buy” by Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.71.

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price objective for the company. Roth Mkm restated a “buy” rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $28.92 on Friday. Clearway Energy has a twelve month low of $24.02 and a twelve month high of $31.09. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.85 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The company’s 50 day moving average is $28.93 and its 200 day moving average is $27.58.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.28. The firm had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, sell-side analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.4384 dividend. This represents a $1.75 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s payout ratio is presently 218.75%.

Hedge Funds Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its position in shares of Clearway Energy by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock worth $236,000 after purchasing an additional 414 shares during the last quarter. Prudent Man Advisors LLC increased its stake in Clearway Energy by 2.0% during the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company’s stock worth $794,000 after buying an additional 516 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in Clearway Energy by 0.9% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company’s stock worth $1,703,000 after buying an additional 586 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Clearway Energy by 5.2% during the fourth quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after acquiring an additional 787 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Clearway Energy by 0.5% in the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company’s stock valued at $5,130,000 after acquiring an additional 862 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.