Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $32.57

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.57.

Separately, StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th.

Insider Transactions at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning lifted its holdings in shares of Clearway Energy by 23.5% in the 3rd quarter. Creative Planning now owns 16,450 shares of the company’s stock worth $505,000 after acquiring an additional 3,134 shares during the last quarter. nVerses Capital LLC raised its position in Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after purchasing an additional 1,700 shares during the period. Spirit of America Management Corp NY lifted its stake in Clearway Energy by 17.2% in the third quarter. Spirit of America Management Corp NY now owns 6,800 shares of the company’s stock worth $209,000 after purchasing an additional 1,000 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Clearway Energy by 11.8% during the third quarter. Nisa Investment Advisors LLC now owns 20,890 shares of the company’s stock valued at $641,000 after buying an additional 2,200 shares during the period. Finally, abrdn plc grew its stake in shares of Clearway Energy by 8.7% during the third quarter. abrdn plc now owns 461,200 shares of the company’s stock valued at $14,150,000 after buying an additional 37,100 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $27.42 on Monday. The company has a market capitalization of $5.54 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.73 and a beta of 0.88. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The firm’s 50 day simple moving average is $26.05 and its two-hundred day simple moving average is $27.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.4312 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.72 annualized dividend and a yield of 6.29%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is presently 163.46%.

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.