Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $34.17

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $34.17.

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm restated a “buy” rating and issued a $34.00 price target (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th.

Clearway Energy Stock Down 0.1 %

Shares of Clearway Energy stock opened at $29.14 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a 1 year low of $20.79 and a 1 year high of $30.92. The firm’s 50-day moving average is $26.54 and its two-hundred day moving average is $27.46. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.75 and a beta of 0.92.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $256.00 million for the quarter, compared to the consensus estimate of $299.73 million. As a group, research analysts expect that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.4312 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Monday, March 3rd. Clearway Energy’s dividend payout ratio (DPR) is currently 229.33%.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently modified their holdings of CWEN. Mascoma Wealth Management LLC purchased a new position in shares of Clearway Energy in the 4th quarter valued at approximately $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Clearway Energy in the 4th quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $50,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the 4th quarter valued at approximately $51,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy in the 3rd quarter valued at approximately $71,000. 84.53% of the stock is owned by hedge funds and other 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.