Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $33.13

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $33.13.

Several analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. CIBC upped their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th.

Clearway Energy Stock Performance

CWEN opened at $26.58 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a market cap of $5.37 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. The stock has a 50-day moving average of $27.48 and a 200-day moving average of $27.50. Clearway Energy has a 52-week low of $20.63 and a 52-week high of $30.92.

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

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.38%. The ex-dividend date of this dividend was Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is 162.50%.

Insiders Place Their Bets

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm’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 completion of the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. This trade 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 available at this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Clearway Energy

Large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in shares of Clearway Energy during the 3rd quarter worth approximately $50,000. Quarry LP raised its stake in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Clearway Energy during the third quarter valued at $71,000. Icon Wealth Advisors LLC acquired a new stake in shares of Clearway Energy in the 3rd quarter valued at $106,000. Finally, Recurrent Investment Advisors LLC bought a new stake in shares of Clearway Energy in the 3rd quarter worth about $202,000. 84.53% of the stock is currently owned by institutional investors.

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.