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

Clearway Energy, Inc. (NYSE:CWEN) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $33.13.

A number of equities research analysts have recently issued reports on CWEN shares. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday.

Clearway Energy Trading Down 2.6 %

NYSE:CWEN opened at $28.33 on Wednesday. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The stock has a fifty day moving average price of $28.19 and a two-hundred day moving average price of $27.52. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.39 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. As a group, sell-side analysts anticipate that Clearway Energy will post 0.78 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 5.99%. Clearway Energy’s dividend payout ratio is presently 163.46%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently made changes to their positions in CWEN. Fulton Bank N.A. lifted its position in Clearway Energy by 3.8% during the third quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after buying an additional 449 shares during the period. Whittier Trust Co. lifted its holdings in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after acquiring an additional 512 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Clearway Energy by 5.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after acquiring an additional 654 shares during the last quarter. Congress Asset Management Co. grew its holdings in Clearway Energy by 0.4% in the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after purchasing an additional 699 shares during the period. Finally, Quarry LP increased its position in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 38.03% 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.