Clearway Energy, Inc. (NYSE:CWEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $34.17.

Several brokerages recently weighed in on CWEN. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Roth Mkm restated a “buy” rating and set a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th.

Clearway Energy Trading Up 1.3 %

NYSE CWEN opened at $30.06 on Friday. Clearway Energy has a one year low of $21.06 and a one year high of $30.92. The company has a 50-day simple moving average of $26.84 and a 200-day simple moving average of $27.50. 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 firm has a market capitalization of $6.08 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). The firm had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. On average, equities analysts forecast that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.4312 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 5.74%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 229.33%.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds have recently made changes to their positions in CWEN. Mascoma Wealth Management LLC purchased a new position in shares of Clearway Energy in the fourth quarter worth approximately $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Clearway Energy in the fourth quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Clearway Energy in the third quarter worth approximately $50,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the fourth quarter worth approximately $51,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy in the third quarter worth approximately $71,000. 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.