Clearway Energy, Inc. (NYSE:CWEN) Receives $32.57 Average Target Price from Analysts

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.57.

Separately, StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th.

Clearway Energy Price Performance

Clearway Energy stock traded up $0.34 during mid-day trading on Monday, reaching $27.06. The company had a trading volume of 1,052,515 shares, compared to its average volume of 742,780. The business has a fifty day simple moving average of $26.05 and a 200 day simple moving average of $27.57. The company has a market cap of $5.47 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.71 and a beta of 0.88. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two 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.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.4312 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. Clearway Energy's dividend payout ratio (DPR) is 165.38%.

Insider Buying and Selling

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently modified their holdings of CWEN. Creative Planning lifted its holdings in Clearway Energy by 23.5% in the third quarter. Creative Planning now owns 16,450 shares of the company's stock valued at $505,000 after buying an additional 3,134 shares during the period. nVerses Capital LLC lifted its stake in shares of Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company's stock valued at $206,000 after purchasing an additional 1,700 shares during the period. Spirit of America Management Corp NY boosted its position in shares of Clearway Energy by 17.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 6,800 shares of the company's stock valued at $209,000 after purchasing an additional 1,000 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Clearway Energy by 11.8% during the third quarter. Nisa Investment Advisors LLC now owns 20,890 shares of the company's stock worth $641,000 after purchasing an additional 2,200 shares during the period. Finally, abrdn plc grew its stake in Clearway Energy by 8.7% during the third quarter. abrdn plc now owns 461,200 shares of the company's stock worth $14,150,000 after purchasing an additional 37,100 shares during the period. 84.53% of the stock is owned by institutional investors.

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.