Clearway Energy, Inc. (NYSE:CWEN) Receives $33.13 Average Price Target from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.13.

Several equities research analysts have weighed in on the company. BNP Paribas assumed coverage on Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. Finally, CIBC increased their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd.

Clearway Energy Stock Performance

NYSE:CWEN opened at $26.31 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy has a twelve month low of $20.63 and a twelve month high of $30.92. The stock has a market cap of $5.32 billion, a P/E ratio of 25.30, a PEG ratio of 1.24 and a beta of 0.86. The business’s 50-day moving average price is $27.47 and its two-hundred day moving average price is $27.48.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same period last year, the firm posted $0.03 EPS. The company’s revenue was up 31.0% on a year-over-year basis. As a group, equities analysts predict that Clearway Energy will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.45%. Clearway Energy’s payout ratio is 162.50%.

Insiders Place Their Bets

In other news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, the director now owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Clearway Energy in the 3rd quarter valued at $3,532,000. Hancock Whitney Corp purchased a new position in Clearway Energy during the third quarter worth about $1,486,000. National Bank of Canada FI raised its position in Clearway Energy by 1,778.8% in the third quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock valued at $948,000 after purchasing an additional 29,262 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Clearway Energy during the second quarter worth about $3,643,000. Finally, 1832 Asset Management L.P. purchased a new position in Clearway Energy in the second quarter valued at $32,310,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

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.