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

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) has received an average rating of "Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.71.

CWEN has been the topic of several analyst reports. Roth Mkm reiterated a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target for the company.

Clearway Energy Stock Down 0.1 %

NYSE:CWEN traded down $0.02 on Friday, hitting $28.62. 901,353 shares of the company's stock were exchanged, compared to its average volume of 877,576. Clearway Energy has a 52 week low of $24.02 and a 52 week high of $31.09. The company has a market cap of $5.79 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a 50-day moving average price of $28.82 and a 200-day moving average price of $27.54.

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

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.4384 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Monday, June 2nd. Clearway Energy's dividend payout ratio (DPR) is presently 218.75%.

Institutional Trading of Clearway Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CWEN. Tortoise Capital Advisors L.L.C. increased its position in shares of Clearway Energy by 7.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock valued at $72,772,000 after buying an additional 186,544 shares during the period. RWC Asset Management LLP increased its holdings in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock worth $32,480,000 after acquiring an additional 642,322 shares during the period. abrdn plc lifted its stake in Clearway Energy by 30.7% in the 4th quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after purchasing an additional 141,500 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Clearway Energy by 2.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock valued at $15,075,000 after purchasing an additional 14,296 shares during the period. Finally, King Luther Capital Management Corp grew its position in shares of Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock valued at $14,143,000 after purchasing an additional 525,450 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

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.