Clearway Energy (NYSE:CWEN) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Clearway Energy (NYSE:CWEN) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $35.00 price objective on the stock.

Several other research analysts have also weighed in on CWEN. Morgan Stanley upgraded shares of Clearway Energy from an equal weight rating to an overweight rating and boosted their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com raised Clearway Energy from a sell rating to a hold rating in a research report on Friday, August 9th. Finally, Roth Mkm restated a buy rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $31.71.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $29.93 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The stock has a 50 day moving average price of $27.97 and a 200 day moving average price of $25.80. The stock has a market capitalization of $6.05 billion, a PE ratio of 45.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $29.99.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). The company had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. Analysts predict that Clearway Energy will post 0.9 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s payout ratio is currently 251.52%.

Hedge Funds Weigh In On Clearway Energy

A number of large investors have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in Clearway Energy in the 4th quarter valued at $25,000. Mather Group LLC. acquired a new stake in shares of Clearway Energy during the first quarter worth $37,000. Abich Financial Wealth Management LLC boosted its position in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the period. Whittier Trust Co. grew its stake in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares in the last quarter. 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 acquiring an additional 843 shares during the period. Institutional investors own 38.03% 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.