Clearway Energy, Inc. (NYSE:CWEN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.57.

Several brokerages recently commented on CWEN. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price objective for the company. StockNews.com cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, November 30th. Finally, CIBC raised their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research note on Tuesday, October 22nd.

Clearway Energy Trading Up 2.5 %

NYSE:CWEN traded up $0.61 during trading hours on Thursday, hitting $25.24. The stock had a trading volume of 1,366,189 shares, compared to its average volume of 733,131. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 1.72 and a beta of 0.88. Clearway Energy has a one year low of $20.63 and a one year high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The business's 50 day moving average is $27.03 and its 200-day moving average is $27.54.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Sell-side analysts anticipate that Clearway Energy will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.424 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.72%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's payout ratio is presently 163.46%.

Insiders Place Their Bets

In other news, Director Brian R. Ford sold 2,000 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares of the company's stock, valued at $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 is available at this hyperlink. Insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CWEN. Ashton Thomas Securities LLC purchased a new stake in shares of Clearway Energy in the third quarter worth approximately $50,000. Quarry LP increased its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company's stock worth $60,000 after buying an additional 843 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Clearway Energy during the third quarter valued at approximately $71,000. Icon Wealth Advisors LLC purchased a new stake in shares of Clearway Energy in the third quarter valued at approximately $106,000. Finally, Recurrent Investment Advisors LLC bought a new position in Clearway Energy in the third quarter worth approximately $202,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

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.