Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $35.50

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have been given a consensus rating of "Buy" by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $35.50.

CWEN has been the subject of a number of recent research reports. Roth Mkm reiterated a "buy" rating and set a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Wall Street Zen cut Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research note on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company.

Clearway Energy Stock Up 1.5%

Shares of NYSE CWEN traded up $0.45 during mid-day trading on Wednesday, hitting $30.80. 1,633,106 shares of the stock traded hands, compared to its average volume of 879,628. The stock has a fifty day moving average price of $29.21 and a 200-day moving average price of $27.88. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.75 and a beta of 0.89. Clearway Energy has a 52 week low of $24.02 and a 52 week high of $31.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. The business had revenue of $298.00 million during the quarter, compared to analysts' expectations of $305.74 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) earnings per share. Research analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.4384 dividend. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date is Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a yield of 5.69%. Clearway Energy's dividend payout ratio is presently 218.75%.

Institutional Trading of Clearway Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its position in Clearway Energy by 14.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock worth $320,000 after buying an additional 1,599 shares in the last quarter. abrdn plc increased its position in Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after buying an additional 141,500 shares in the last quarter. King Luther Capital Management Corp increased its position in Clearway Energy by 2,840.3% in the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after buying an additional 525,450 shares in the last quarter. Simmons Bank purchased a new stake in Clearway Energy in the fourth quarter worth about $377,000. Finally, ABC Arbitrage SA purchased a new stake in Clearway Energy in the fourth quarter worth about $325,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

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.