Clearway Energy, Inc. (NYSE:CWEN) Given Average Recommendation of “Buy” by Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average rating of “Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $43.7778.

A number of equities research analysts have recently commented on CWEN shares. Zacks Research upgraded shares of Clearway Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a report on Friday, September 4th. UBS Group raised their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings upgraded Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th.

Clearway Energy Price Performance

Shares of Clearway Energy stock opened at $30.81 on Tuesday. The stock has a market capitalization of $6.32 billion, a P/E ratio of 40.54 and a beta of 0.87. The business has a 50 day simple moving average of $32.39 and a two-hundred day simple moving average of $36.13. Clearway Energy has a 12 month low of $27.90 and a 12 month high of $41.74. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. As a group, analysts predict that Clearway Energy will post -0.5 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.475 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Clearway Energy’s payout ratio is 250.00%.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Clearway Energy by 42.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,644 shares of the company’s stock worth $295,000 after acquiring an additional 2,571 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Clearway Energy during the 2nd quarter valued at about $83,000. Maven Securities LTD purchased a new stake in shares of Clearway Energy in the second quarter valued at about $667,000. NewEdge Advisors LLC grew its holdings in shares of Clearway Energy by 51.0% in the second quarter. NewEdge Advisors LLC now owns 12,242 shares of the company’s stock valued at $418,000 after purchasing an additional 4,136 shares during the period. Finally, Squarepoint Ops LLC increased its position in Clearway Energy by 276.7% during the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.