Clearway Energy, Inc. (NYSE:CWEN) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Clearway Energy has a “Moderate Buy” consensus rating from 10 analysts: seven buys, two holds and one strong buy. The average 12-month price target is $43.44, well above the reported $30.23 share price.
• Institutional investors own 84.53% of the company, with several hedge funds recently increasing their positions, including Squarepoint Ops, Sanctuary Advisors and Baird Financial.
• Clearway reported quarterly EPS of $1.00, beating estimates of $0.24, and revenue of $481 million. It also raised its quarterly dividend to $0.475, equivalent to a 6.3% annualized yield.

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $43.44.

Several equities analysts have recently weighed in on CWEN shares. UBS Group raised their target price on Clearway Energy from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Morgan Stanley dropped their price target on Clearway Energy from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, August 18th. Truist Financial decreased their price objective on Clearway Energy from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Seaport Research Partners lowered their target price on shares of Clearway Energy from $41.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $38.00 target price on shares of Clearway Energy in a research note on Friday, September 4th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CWEN. Pacer Advisors Inc. increased its position in shares of Clearway Energy by 0.9% during the 1st quarter. Pacer Advisors Inc. now owns 844,221 shares of the company's stock worth $33,169,000 after purchasing an additional 7,215 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Clearway Energy by 12.9% in the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company's stock valued at $10,126,000 after acquiring an additional 33,922 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company's stock valued at $9,571,000 after acquiring an additional 58,138 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Clearway Energy by 276.7% in the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company's stock worth $7,087,000 after acquiring an additional 152,292 shares during the last quarter. Finally, Castellan Group increased its holdings in Clearway Energy by 9.2% in the 1st quarter. Castellan Group now owns 142,230 shares of the company's stock valued at $5,588,000 after purchasing an additional 11,988 shares during the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $30.23 on Friday. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 39.77 and a beta of 0.88. The company has a 50 day simple moving average of $31.51 and a two-hundred day simple moving average of $35.30. Clearway Energy has a 12 month low of $28.57 and a 12 month high of $41.74. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million for the quarter, compared to analyst estimates of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, analysts predict that Clearway Energy will post -0.37 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.4750 dividend. This represents a $1.90 annualized dividend and a yield of 6.3%. The ex-dividend date was Tuesday, September 1st. This is an increase from Clearway Energy's previous quarterly dividend of $0.4676. Clearway Energy's dividend payout ratio (DPR) is currently 250.00%.

About Clearway Energy

Clearway Energy, Inc NYSE: CWEN is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company's operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway's renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.

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