Clearway Energy’s (CWEN) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Clearway Energy (NYSE:CWEN) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $34.00 price objective on the stock, up from their previous price objective of $33.00.

Separately, StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.86.

Clearway Energy Stock Performance

Shares of CWEN opened at $27.32 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.52 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.75 and a beta of 0.88. The business’s 50 day moving average price is $26.07 and its 200-day moving average price is $27.53. Clearway Energy has a 52 week low of $20.63 and a 52 week high of $30.92.

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

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.4312 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date is Monday, March 3rd. Clearway Energy’s payout ratio is presently 165.38%.

Insider Buying and Selling

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Street Partners LLC raised its stake in Clearway Energy by 1.7% during the 4th quarter. Principal Street Partners LLC now owns 210,400 shares of the company’s stock valued at $5,470,000 after buying an additional 3,606 shares during the last quarter. Voloridge Investment Management LLC raised its stake in Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock valued at $12,235,000 after buying an additional 336,668 shares during the last quarter. Squarepoint Ops LLC raised its stake in Clearway Energy by 88.0% during the 4th quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock valued at $4,920,000 after buying an additional 88,560 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of Clearway Energy in the 4th quarter worth $711,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Clearway Energy in the 4th quarter worth $166,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

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.