Clearway Energy, Inc. (NYSE:CWEN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Clearway Energy, Inc. has received a consensus rating of "Moderate Buy" from research analysts, with an average target price of $36.40.
• The company has recently increased its quarterly dividend to $0.4456 per share, reflecting a yield of 6.3% and a payout ratio of 273.85%.
• In its latest earnings report, Clearway posted a loss of $0.39 per share against an expected profit, with revenues also falling short of estimates.

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.40.

Several research firms have weighed in on CWEN. Jefferies Financial Group lifted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research note on Saturday, July 19th. Finally, Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th.

Clearway Energy Trading Down 0.7%

Clearway Energy stock opened at $28.35 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 43.62, a price-to-earnings-growth ratio of 1.26 and a beta of 0.87. Clearway Energy has a 1 year low of $24.40 and a 1 year high of $33.22. The firm's 50 day moving average price is $29.77 and its two-hundred day moving average price is $30.08.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.39). Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The business had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. During the same quarter last year, the firm posted $0.43 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.4456 dividend. This represents a $1.78 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. Clearway Energy's dividend payout ratio (DPR) is presently 273.85%.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC lifted its position in Clearway Energy by 8.1% during the 2nd quarter. Corient Private Wealth LLC now owns 11,689 shares of the company's stock worth $374,000 after acquiring an additional 875 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Clearway Energy by 2.7% during the second quarter. Advisory Services Network LLC now owns 30,452 shares of the company's stock valued at $994,000 after buying an additional 803 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Clearway Energy during the second quarter valued at about $2,352,000. Westwood Holdings Group Inc. acquired a new position in shares of Clearway Energy during the second quarter valued at about $2,693,000. Finally, Headlands Technologies LLC acquired a new position in shares of Clearway Energy during the second quarter valued at about $43,000. Institutional investors and hedge funds own 84.53% of the company's stock.

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.

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