Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $44.50.
Several equities analysts recently commented on CWEN shares. Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 9th. Morgan Stanley decreased their price objective on shares of Clearway Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday. Zacks Research raised shares of Clearway Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Truist Financial assumed coverage on shares of Clearway Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Evercore reaffirmed a “positive” rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday.
Read Our Latest Research Report on Clearway Energy
Institutional Inflows and Outflows
Clearway Energy Trading Down 3.1%
CWEN stock opened at $32.63 on Friday. The company’s 50-day simple moving average is $34.04 and its 200-day simple moving average is $37.26. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. Clearway Energy has a 52-week low of $27.67 and a 52-week high of $41.74. The firm has a market cap of $6.70 billion, a P/E ratio of 42.93 and a beta of 0.89.
Clearway Energy (NYSE:CWEN – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, equities analysts forecast that Clearway Energy will post -0.5 EPS for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.475 per share. The ex-dividend date is Tuesday, September 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 5.8%. Clearway Energy’s payout ratio is currently 250.00%.
Clearway Energy Company Profile
Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.
Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.
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