Clearway Energy (NYSE:CWEN) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy (NYSE:CWEN) in a research note released on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $38.00 price target on the stock.

CWEN has been the topic of a number of other research reports. StockNews.com raised 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 issued a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and an average target price of $34.71.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $30.48 on Tuesday. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 1.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy has a 52 week low of $21.34 and a 52 week high of $30.92. The firm’s 50-day simple moving average is $27.15 and its two-hundred day simple moving average is $27.54.

Clearway Energy (NYSE:CWEN) last issued its quarterly 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 company had revenue of $256.00 million for the quarter, compared to analysts’ expectations of $299.73 million. As a group, equities analysts forecast that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.4312 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 5.66%. Clearway Energy’s dividend payout ratio is 229.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its holdings in shares of Clearway Energy by 46.7% in the third quarter. Cerity Partners LLC now owns 18,102 shares of the company’s stock worth $555,000 after buying an additional 5,764 shares in the last quarter. Hancock Whitney Corp purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $1,486,000. Rockefeller Capital Management L.P. boosted its holdings in Clearway Energy by 7.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,272 shares of the company’s stock valued at $1,296,000 after purchasing an additional 2,837 shares during the period. Icon Wealth Advisors LLC purchased a new position in shares of Clearway Energy during the 3rd quarter valued at $106,000. Finally, PDT Partners LLC increased its holdings in shares of Clearway Energy by 30.7% in the third quarter. PDT Partners LLC now owns 59,791 shares of the company’s stock worth $1,834,000 after purchasing an additional 14,058 shares during the period. Hedge funds and other institutional investors 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.