Clearway Energy, Inc. (NYSE:CWEN) Receives $32.57 Consensus Target Price from Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $32.57.

A number of brokerages have recently issued reports on CWEN. BNP Paribas began coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $25.86 on Thursday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.65 and a beta of 0.88. The business has a 50-day moving average of $26.95 and a 200-day moving average of $27.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts predict that Clearway Energy will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.56%. Clearway Energy’s payout ratio is currently 162.50%.

Insider Buying and Selling

In other news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Clearway Energy in the 3rd quarter valued at about $3,532,000. Hancock Whitney Corp purchased a new stake in shares of Clearway Energy during the 3rd quarter valued at $1,486,000. National Bank of Canada FI raised its position in Clearway Energy by 1,778.8% in the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock worth $948,000 after purchasing an additional 29,262 shares during the period. Entropy Technologies LP purchased a new position in Clearway Energy in the 3rd quarter worth $1,026,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after acquiring an additional 254,486 shares during the last quarter. Institutional investors and hedge funds 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.