Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Price Target at $34.71

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

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a research report on Tuesday, March 25th. They set a "buy" rating and a $38.00 target price on the stock. Roth Mkm reissued a "buy" rating and set a $34.00 price target (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Finally, StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th.

Institutional Trading of Clearway Energy

Hedge funds have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. raised its stake 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 acquiring an additional 186,544 shares during the last quarter. RWC Asset Management LLP increased its stake in Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock worth $32,480,000 after purchasing an additional 642,322 shares during the period. abrdn plc boosted its stake in Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after acquiring an additional 141,500 shares in the last quarter. Northwest & Ethical Investments L.P. raised its stake in shares of Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock valued at $15,075,000 after buying an additional 14,296 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in 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 worth $14,143,000 after purchasing an additional 525,450 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Price Performance

Shares of NYSE:CWEN traded down $0.16 during midday trading on Friday, reaching $28.45. The company's stock had a trading volume of 161,144 shares, compared to its average volume of 875,555. 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 company has a market capitalization of $5.75 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.75 and a beta of 0.89. The business's fifty day simple moving average is $28.85 and its 200-day simple moving average is $27.55. Clearway Energy has a fifty-two week low of $24.02 and a fifty-two week high of $31.09.

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

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.4384 dividend. The ex-dividend date is Monday, June 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a dividend yield of 6.16%. Clearway Energy's dividend payout ratio is 218.75%.

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.