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

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $43.00.

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley lifted their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. UBS Group set a $45.00 target price on shares of Clearway Energy in a research note on Tuesday, February 24th. Finally, Weiss Ratings downgraded shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Clearway Energy Trading Down 0.5%

CWEN stock opened at $37.49 on Friday. The company has a market capitalization of $7.69 billion, a PE ratio of 937.41 and a beta of 0.86. Clearway Energy has a one year low of $27.67 and a one year high of $41.74. The company’s 50 day moving average price is $39.19 and its two-hundred day moving average price is $37.32. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The firm had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. As a group, analysts predict that Clearway Energy will post -0.87 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.4676 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a dividend yield of 5.0%. Clearway Energy’s payout ratio is presently 4,675.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CWEN. Clearbridge Investments LLC increased its position in Clearway Energy by 26.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after purchasing an additional 981,488 shares during the period. Wellington Management Group LLP purchased a new position in Clearway Energy during the 4th quarter valued at $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after purchasing an additional 394,579 shares during the period. Capula Management Ltd purchased a new position in Clearway Energy during the 3rd quarter valued at $4,646,000. Finally, Pacer Advisors Inc. increased its position in Clearway Energy by 20.1% during the 4th quarter. Pacer Advisors Inc. now owns 837,006 shares of the company’s stock valued at $27,839,000 after purchasing an additional 140,006 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.