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

Key Points

• Analysts remain broadly bullish: Clearway Energy has a consensus “Buy” rating from nine brokerages, with an average 12-month price target of $44.50 versus its recent price of $32.63.
• The company reported quarterly EPS of $1.00, significantly exceeding the $0.24 consensus estimate, while revenue of $481 million also topped expectations.
• Clearway raised its quarterly dividend to $0.475 per share, implying an annualized dividend of $1.90 and a yield of approximately 5.8%; institutional investors own 84.53% of the stock.

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $44.50.

Several equities analysts recently commented on CWEN shares. Wall Street Zen raised Clearway Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, August 9th. Morgan Stanley decreased their price objective on shares of Clearway Energy from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday. Zacks Research raised shares of Clearway Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Truist Financial assumed coverage on shares of Clearway Energy in a research note on Monday, July 13th. They issued a "buy" rating and a $43.00 target price on the stock. Finally, Evercore reaffirmed a "positive" rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Clearway Energy by 12.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company's stock valued at $1,070,000 after buying an additional 3,787 shares during the period. Jump Financial LLC acquired a new stake in shares of Clearway Energy in the 2nd quarter valued at approximately $215,000. Cerity Partners LLC grew its stake in shares of Clearway Energy by 1.8% in the second quarter. Cerity Partners LLC now owns 68,489 shares of the company's stock valued at $2,192,000 after buying an additional 1,180 shares in the last quarter. Brevan Howard Capital Management LP raised its position in Clearway Energy by 233.7% during the second quarter. Brevan Howard Capital Management LP now owns 45,896 shares of the company's stock worth $1,469,000 after acquiring an additional 32,144 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Clearway Energy in the 2nd quarter valued at about $2,352,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Trading Down 3.1%

CWEN stock opened at $32.63 on Friday. The company's 50-day simple moving average is $34.04 and its 200-day simple moving average is $37.26. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. Clearway Energy has a 52-week low of $27.67 and a 52-week high of $41.74. The firm has a market cap of $6.70 billion, a P/E ratio of 42.93 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analysts' expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, equities analysts forecast that Clearway Energy will post -0.5 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, September 1st. This is an increase from Clearway Energy's previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 5.8%. Clearway Energy's payout ratio is currently 250.00%.

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.

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