Clearway Energy (NYSE:CWEN) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

CWEN has been the subject of several other research reports. Roth Mkm boosted their price objective on shares of Clearway Energy from $29.00 to $30.00 and gave the stock a buy rating in a research report on Monday, May 13th. Marathon Capitl reaffirmed an equal weight rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Royal Bank of Canada lowered their price objective on Clearway Energy from $26.00 to $25.00 and set a sector perform rating for the company in a research report on Tuesday, February 27th. Morgan Stanley boosted their price objective on Clearway Energy from $23.00 to $25.00 and gave the stock an equal weight rating in a report on Friday, March 1st. Finally, Oppenheimer raised their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the company an outperform rating in a research note on Friday, January 19th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $29.00.

Clearway Energy Trading Down 1.3 %

Shares of CWEN opened at $26.75 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.65 and a current ratio of 1.71. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 40.53 and a beta of 0.86. The stock has a fifty day moving average price of $23.39 and a two-hundred day moving average price of $23.99. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $30.99.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.25. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. The business had revenue of $263.00 million during the quarter, compared to analysts’ expectations of $286.26 million. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. Analysts predict that Clearway Energy will post 1.01 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.41 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Monday, June 3rd. Clearway Energy’s payout ratio is presently 243.94%.

Insider Activity at Clearway Energy

In other news, Director Se Totalenergies purchased 196,964 shares of Clearway Energy stock in a transaction dated Thursday, March 28th. The shares were bought at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the transaction, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clearway Energy

Large investors have recently modified their holdings of the business. Yaupon Capital Management LP bought a new stake in Clearway Energy during the 1st quarter worth approximately $7,346,000. Tidal Investments LLC increased its position in shares of Clearway Energy by 74.5% during the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after acquiring an additional 22,059 shares in the last quarter. BROOKFIELD Corp ON raised its holdings in shares of Clearway Energy by 3.7% during the first quarter. BROOKFIELD Corp ON now owns 182,316 shares of the company’s stock worth $4,202,000 after acquiring an additional 6,520 shares during the period. Apollo Management Holdings L.P. lifted its position in Clearway Energy by 38.4% in the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after acquiring an additional 456,197 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in Clearway Energy by 2.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 63,219 shares of the company’s stock valued at $1,457,000 after acquiring an additional 1,658 shares in the last quarter. 38.03% of the stock is currently owned by institutional investors.

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.