Clearway Energy, Inc. (NYSE:CWEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $33.13.

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

Insider Transactions at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. This represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Institutional Trading of Clearway Energy

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

Clearway Energy Price Performance

Shares of Clearway Energy stock opened at $26.58 on Friday. Clearway Energy has a 52 week low of $20.63 and a 52 week high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company’s 50-day moving average price is $27.48 and its two-hundred day moving average price is $27.50. The stock 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.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.424 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 6.38%. Clearway Energy’s dividend payout ratio is currently 162.50%.

About Clearway Energy

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.