Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Clearway Energy, Inc. has received a consensus rating of "Moderate Buy" from analysts, with four hold ratings and five buy ratings among the nine firms covering the stock.
• The company recently increased its quarterly dividend to $0.4456 per share, yielding approximately 5.6%, reflecting a positive adjustment from the previous dividend of $0.44.
• Clearway Energy's quarterly earnings report showed an EPS of $0.28, which was below the consensus estimate of $0.67, while revenue was $392 million, short of the expected $428.33 million.

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $36.5714.

Several equities research analysts recently weighed in on the stock. CIBC upped their price objective on shares of Clearway Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Tuesday. Cibc World Mkts cut shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Roth Capital reaffirmed a "buy" rating and set a $38.00 price objective on shares of Clearway Energy in a research report on Monday, October 6th. Royal Bank Of Canada assumed coverage on shares of Clearway Energy in a research report on Wednesday, October 8th. They set an "outperform" rating and a $36.00 price objective for the company. Finally, Wall Street Zen cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Clearway Energy by 3.7% in the second quarter. First Trust Advisors LP now owns 2,171,301 shares of the company's stock valued at $69,482,000 after buying an additional 77,595 shares during the period. Gotham Asset Management LLC increased its stake in shares of Clearway Energy by 79.1% in the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock valued at $24,665,000 after buying an additional 359,876 shares during the period. King Luther Capital Management Corp increased its stake in shares of Clearway Energy by 1.1% in the first quarter. King Luther Capital Management Corp now owns 549,840 shares of the company's stock valued at $16,644,000 after buying an additional 5,890 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Clearway Energy by 4.8% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company's stock valued at $15,801,000 after buying an additional 24,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Clearway Energy by 1,116.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company's stock valued at $13,757,000 after buying an additional 394,579 shares during the period. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Trading Up 1.4%

Shares of Clearway Energy stock opened at $31.96 on Friday. The firm has a 50-day moving average of $29.81 and a 200-day moving average of $30.27. The stock has a market cap of $6.46 billion, a PE ratio of 49.17, a PEG ratio of 1.24 and a beta of 0.89. Clearway Energy has a 52-week low of $24.40 and a 52-week high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share 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 firm had revenue of $392.00 million for the quarter, compared to the consensus estimate of $428.33 million. During the same period in the prior year, the company earned $0.43 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.4456 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a yield of 5.6%. Clearway Energy's payout ratio is presently 273.85%.

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.

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