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

Clearway Energy, Inc. (NYSE:CWEN) has received a "Moderate Buy" rating from nine analysts, with a 12-month price target averaging $36.71. Analysts have varied opinions, with some upgrading their ratings and others maintaining a hold. Institutional investors have significantly increased their holdings, indicating confidence in the stock. Clearway Energy reported strong quarterly earnings, beating estimates, and announced a dividend increase, reflecting positive financial performance.

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) has earned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.7143.

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Clearway Energy’s Price Dip: 3 Reasons It’s a Signal to Buy

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a report on Sunday, November 9th. CIBC increased their target price on Clearway Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 21st. Jefferies Financial Group lifted their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada initiated coverage on shares of Clearway Energy in a research report on Wednesday, October 8th. They set an "outperform" rating and a $36.00 target price for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clearway Energy in a research report on Wednesday, October 8th.

View Our Latest Analysis on CWEN

Institutional Investors Weigh In On Clearway Energy

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Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company's stock valued at $13,757,000 after purchasing an additional 394,579 shares in the last quarter. Gotham Asset Management LLC boosted its position in Clearway Energy by 79.1% in the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock valued at $24,665,000 after buying an additional 359,876 shares during the last quarter. Northside Capital Management LLC acquired a new stake in shares of Clearway Energy during the second quarter valued at about $8,847,000. Synergy Asset Management LLC purchased a new stake in shares of Clearway Energy during the third quarter worth about $6,473,000. Finally, Nordea Investment Management AB lifted its stake in shares of Clearway Energy by 325.3% in the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company's stock worth $7,747,000 after acquiring an additional 187,861 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Trading Down 0.3%

Shares of CWEN stock opened at $36.22 on Wednesday. Clearway Energy has a fifty-two week low of $24.40 and a fifty-two week high of $36.68. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $31.39 and a 200-day simple moving average of $30.97. The stock has a market cap of $7.38 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.86 and a beta of 0.93.

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Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. During the same period last year, the firm posted $0.31 EPS. The firm's revenue for the quarter was down 11.7% on a year-over-year basis. On average, 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 will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.4528 per share. This is a positive change from Clearway Energy's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.0%. Clearway Energy's dividend payout ratio is currently 76.07%.

About Clearway Energy

(Get Free Report)

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.

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