Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $33.00

by · The Markets Daily

Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $33.00.

A number of analysts have recently issued reports on CWEN shares. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group assumed coverage on Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 target price on the stock.

View Our Latest Stock Report on CWEN

Institutional Trading of Clearway Energy

Institutional investors have recently added to or reduced their stakes in the business. Apollo Management Holdings L.P. lifted its stake in shares of Clearway Energy by 38.4% in the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after acquiring an additional 456,197 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Clearway Energy in the second quarter valued at approximately $32,310,000. Point72 Asset Management L.P. boosted its stake in shares of Clearway Energy by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after purchasing an additional 384,837 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after purchasing an additional 254,486 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new stake in Clearway Energy during the 1st quarter valued at $7,346,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

NYSE CWEN opened at $26.72 on Tuesday. The company’s 50 day simple moving average is $28.78 and its two-hundred day simple moving average is $26.75. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The stock has a market capitalization of $5.40 billion, a PE ratio of 40.48, a P/E/G ratio of 2.34 and a beta of 0.86.

Clearway Energy (NYSE:CWEN – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same quarter last year, the business posted $0.33 EPS. The company’s quarterly revenue was down 9.9% on a year-over-year basis. Analysts predict that Clearway Energy will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a dividend yield of 6.24%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is currently 251.52%.

About Clearway Energy

(Get Free Report

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.

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