Analysts Set Clearway Energy, Inc. (NYSE:CWEN) PT at $34.71

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) have been assigned a consensus rating of "Buy" from the six research firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.71.

A number of research firms have recently issued reports on CWEN. Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective for the company. Roth Mkm reaffirmed a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th.

Institutional Trading of Clearway Energy

A number of institutional investors have recently made changes to their positions in CWEN. Tortoise Capital Advisors L.L.C. increased its stake in shares of Clearway Energy by 7.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after buying an additional 186,544 shares during the period. RWC Asset Management LLP increased its position in shares of Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after acquiring an additional 642,322 shares during the period. abrdn plc raised its stake in shares of Clearway Energy by 30.7% during the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after acquiring an additional 141,500 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of Clearway Energy by 2.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after purchasing an additional 14,296 shares during the period. Finally, King Luther Capital Management Corp grew its stake in shares of Clearway Energy by 2,840.3% in the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after purchasing an additional 525,450 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Price Performance

NYSE CWEN traded up $0.50 during trading on Tuesday, reaching $28.05. The company's stock had a trading volume of 1,499,087 shares, compared to its average volume of 876,819. The stock has a market capitalization of $5.67 billion, a PE ratio of 26.97, a P/E/G ratio of 1.75 and a beta of 0.85. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a fifty day moving average of $28.08 and a 200 day moving average of $27.54. Clearway Energy has a one year low of $21.72 and a one year high of $31.09.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.10). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $256.00 million during the quarter, compared to analysts' expectations of $299.73 million. Analysts expect that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.4312 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date was Monday, March 3rd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's payout ratio is 229.33%.

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.