Analysts Set Clearway Energy, Inc. (NYSE:CWEN) Price Target at $33.00

by · The Cerbat Gem

Shares of Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $33.00.

Several research firms have commented on CWEN. Jefferies Financial Group assumed coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price for the company. BNP Paribas initiated coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Roth Mkm reiterated a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.

Check Out Our Latest Stock Report on Clearway Energy

Clearway Energy Stock Performance

Clearway Energy stock opened at $27.27 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. The stock has a market cap of $5.51 billion, a PE ratio of 35.88, a P/E/G ratio of 2.34 and a beta of 0.86. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The business’s 50-day moving average price is $28.80 and its two-hundred day moving average price is $26.68.

Clearway Energy (NYSE:CWEN – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. Clearway Energy’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. As a group, analysts expect that Clearway Energy will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.417 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a dividend yield of 6.12%. Clearway Energy’s dividend payout ratio (DPR) is 219.74%.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors have recently made changes to their positions in CWEN. Scarborough Advisors LLC acquired a new position in shares of Clearway Energy during the fourth quarter worth approximately $25,000. Mather Group LLC. bought a new stake in shares of Clearway Energy during the first quarter worth about $37,000. Abich Financial Wealth Management LLC raised its holdings in shares of Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares during the last quarter. Whittier Trust Co. lifted its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares in the last quarter. Finally, Quarry LP increased its holdings in Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Company Profile

(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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