Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) Target Price at $29.00

Shares of Clearway Energy, Inc. (NYSE:CWEN) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.00.

Several research firms recently weighed in on CWEN. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Roth Mkm lifted their price objective on Clearway Energy from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, May 13th. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Evercore ISI raised their target price on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $25.54 on Friday. The firm’s 50 day moving average price is $26.19 and its 200-day moving average price is $24.57. The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $5.16 billion, a PE ratio of 38.70 and a beta of 0.86. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $28.71.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.25. Clearway Energy had a net margin of 5.97% and a return on equity of 1.67%. The business had revenue of $263.00 million for the quarter, compared to the consensus estimate of $286.26 million. The firm’s revenue was down 8.7% compared to the same quarter last year. Equities research analysts expect that Clearway Energy will post 1.01 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 6.42%. The ex-dividend date was Monday, June 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio (DPR) is 248.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWEN. Apollo Management Holdings L.P. raised its position in shares of Clearway Energy by 38.4% during the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after buying an additional 456,197 shares during the last quarter. First Trust Advisors LP grew its stake in Clearway Energy by 4.3% during the fourth quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock valued at $25,032,000 after acquiring an additional 38,032 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Clearway Energy in the 4th quarter valued at $9,807,000. Pinebridge Investments L.P. lifted its stake in Clearway Energy by 31.8% in the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock worth $9,202,000 after purchasing an additional 80,962 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of Clearway Energy during the 1st quarter valued at about $7,346,000. 38.03% of the stock is currently 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.