Clearway Energy, Inc. (NYSE:CWEN) Receives $36.40 Consensus Price Target from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $36.40.

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. CIBC downgraded Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target for the company. in a report on Saturday, July 19th. Cibc World Mkts downgraded Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Finally, Jefferies Financial Group increased their price target on Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd.

Clearway Energy Trading Up 0.3%

NYSE CWEN traded up $0.08 on Monday, reaching $29.33. The company had a trading volume of 101,271 shares, compared to its average volume of 925,070. The stock's 50 day moving average is $31.65 and its 200-day moving average is $29.59. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 1.01 and a beta of 0.87. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. Clearway Energy has a 52 week low of $24.40 and a 52 week high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.39). The company had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. Equities analysts predict that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.4456 per share. The ex-dividend date is Tuesday, September 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.1%. Clearway Energy's dividend payout ratio is 269.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Brevan Howard Capital Management LP grew its holdings in shares of 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 buying an additional 32,144 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clearway Energy by 1,116.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company's stock worth $13,757,000 after buying an additional 394,579 shares in the last quarter. Ardsley Advisory Partners LP grew its holdings in shares of Clearway Energy by 10.0% during the second quarter. Ardsley Advisory Partners LP now owns 55,000 shares of the company's stock worth $1,760,000 after buying an additional 5,000 shares in the last quarter. Maven Securities LTD bought a new position in shares of Clearway Energy during the second quarter worth about $333,000. Finally, Transce3nd LLC grew its holdings in shares of Clearway Energy by 6.4% during the second quarter. Transce3nd LLC now owns 20,488 shares of the company's stock worth $655,000 after buying an additional 1,228 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Company Profile

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.