Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $28.33.

CWEN has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Clearway Energy from $26.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley lifted their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, March 1st. StockNews.com downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, March 1st. Marathon Capitl reissued an "equal weight" rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Finally, Oppenheimer boosted their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, January 19th.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies purchased 196,964 shares of the company's stock in a transaction dated Thursday, March 28th. The shares were acquired at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now owns 295,235 shares of the company's stock, valued at approximately $6,749,072.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds have recently modified their holdings of CWEN. PFG Investments LLC boosted its holdings in Clearway Energy by 12.4% in the first quarter. PFG Investments LLC now owns 82,731 shares of the company's stock worth $1,907,000 after purchasing an additional 9,110 shares in the last quarter. Abundance Wealth Counselors boosted its holdings in Clearway Energy by 71.8% in the first quarter. Abundance Wealth Counselors now owns 29,678 shares of the company's stock worth $684,000 after purchasing an additional 12,405 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Clearway Energy by 7.1% in the first quarter. Fulton Bank N.A. now owns 10,410 shares of the company's stock worth $240,000 after purchasing an additional 688 shares in the last quarter. Mather Group LLC. bought a new stake in Clearway Energy in the first quarter worth $37,000. Finally, Scarborough Advisors LLC bought a new stake in Clearway Energy during the fourth quarter valued at about $25,000. 38.03% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Price Performance

NYSE:CWEN traded up $0.53 during midday trading on Tuesday, hitting $23.59. 903,942 shares of the stock were exchanged, compared to its average volume of 923,169. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 34.69 and a beta of 0.87. Clearway Energy has a one year low of $18.59 and a one year high of $31.72. The business has a 50-day moving average price of $22.51 and a two-hundred day moving average price of $23.58.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.15. The firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The firm's quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Sell-side analysts predict that Clearway Energy will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.403 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Clearway Energy's previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.83%. Clearway Energy's dividend payout ratio is 236.76%.

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.