Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Rating of “Moderate Buy” from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $37.25.

CWEN has been the topic of a number of research reports. UBS Group restated a “buy” rating and issued a $39.00 price objective on shares of Clearway Energy in a report on Wednesday, December 10th. Cibc Captl Mkts upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Evercore ISI started coverage on shares of Clearway Energy in a research note on Monday, October 6th. They set an “in-line” rating and a $34.00 price objective for the company. CIBC raised shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their target price for the company from $37.00 to $38.00 in a research note on Tuesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th.

Clearway Energy Stock Up 0.5%

Shares of CWEN opened at $32.57 on Friday. Clearway Energy has a fifty-two week low of $24.40 and a fifty-two week high of $36.89. The company’s fifty day moving average is $33.68 and its two-hundred day moving average is $31.68. The firm has a market cap of $6.64 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.37 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. During the same period in the prior year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts forecast that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.4528 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, December 1st. Clearway Energy’s payout ratio is presently 77.35%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently modified their holdings of CWEN. Caitong International Asset Management Co. Ltd boosted its holdings in Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares during the period. National Bank of Canada FI lifted its position in shares of Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Clearway Energy in the third quarter valued at $29,000. Hilltop National Bank acquired a new stake in Clearway Energy during the 2nd quarter valued at $35,000. Finally, Headlands Technologies LLC acquired a new stake in Clearway Energy during the 2nd quarter valued at $43,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

About Clearway Energy

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.