Clearway Energy Inc (NYSE:CWEN) Receives $15.33 Average Price Target from Analysts

Shares of Clearway Energy Inc (NYSE:CWEN) have earned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.33.

Several brokerages have recently commented on CWEN. Bank of America raised Clearway Energy from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Evercore ISI reaffirmed a “hold” rating and issued a $16.00 target price on shares of Clearway Energy in a research note on Sunday, August 11th. ValuEngine raised Clearway Energy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Zacks Investment Research raised Clearway Energy from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Friday, July 19th.

A number of hedge funds have recently bought and sold shares of CWEN. Great Lakes Advisors LLC purchased a new stake in Clearway Energy in the 2nd quarter valued at approximately $3,609,000. Fortress Investment Group LLC purchased a new stake in Clearway Energy in the 2nd quarter valued at approximately $2,220,000. Kennedy Capital Management Inc. purchased a new stake in Clearway Energy in the 1st quarter valued at approximately $1,889,000. Reaves W H & Co. Inc. lifted its stake in Clearway Energy by 10.0% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,108,419 shares of the company’s stock valued at $16,748,000 after buying an additional 101,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Clearway Energy by 13.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 783,852 shares of the company’s stock valued at $11,843,000 after buying an additional 95,719 shares in the last quarter. 32.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CWEN traded up $0.04 during trading on Wednesday, hitting $17.66. 288,513 shares of the stock were exchanged, compared to its average volume of 638,887. The company has a fifty day moving average price of $17.61 and a two-hundred day moving average price of $15.94. The company has a market cap of $3.46 billion, a PE ratio of 38.39, a P/E/G ratio of 4.07 and a beta of 1.23. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 2.13. Clearway Energy has a 12-month low of $12.12 and a 12-month high of $20.75.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.62). The firm had revenue of $284.00 million for the quarter, compared to analysts’ expectations of $316.49 million. Clearway Energy had a negative return on equity of 4.14% and a negative net margin of 8.90%. Clearway Energy’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Equities research analysts anticipate that Clearway Energy will post 0.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Friday, August 30th. Clearway Energy’s payout ratio is currently 173.91%.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

Read More: Initial Public Offering (IPO)

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