Clearway Energy (NYSE:CWEN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Clearway Energy (NYSE:CWEN - Free Report) had its target price lifted by Jefferies Financial Group from $37.00 to $39.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company. CIBC cut shares of 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 cut shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.33.

Clearway Energy Stock Performance

CWEN traded down $0.35 during trading on Wednesday, reaching $31.44. The company's stock had a trading volume of 422,979 shares, compared to its average volume of 926,617. Clearway Energy has a 52-week low of $24.40 and a 52-week high of $33.22. The company's fifty day moving average price is $31.48 and its 200-day moving average price is $29.04. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its 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 6.69% and a return on equity of 1.68%. The firm had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. During the same period last year, the firm posted ($0.02) EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.4384 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date was Monday, June 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is 218.75%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Clearway Energy during the first quarter valued at about $280,000. M&T Bank Corp increased its stake in shares of Clearway Energy by 75.8% in the first quarter. M&T Bank Corp now owns 25,225 shares of the company's stock worth $764,000 after buying an additional 10,878 shares during the period. Cerity Partners LLC grew its position in shares of Clearway Energy by 488.1% in the 1st quarter. Cerity Partners LLC now owns 67,309 shares of the company's stock worth $2,037,000 after buying an additional 55,863 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of Clearway Energy in the 4th quarter worth approximately $711,000. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Clearway Energy by 358.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 47,909 shares of the company's stock worth $1,246,000 after buying an additional 37,461 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

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.