Clearway Energy (NYSE:CWEN) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Clearway Energy (NYSE:CWEN – Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Check Out Our Latest Analysis on Clearway Energy

Clearway Energy Stock Performance

Shares of CWEN stock opened at $32.17 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. The firm has a fifty day moving average price of $30.17 and a 200 day moving average price of $28.28. The company has a market cap of $6.50 billion, a P/E ratio of 40.22, a PEG ratio of 0.76 and a beta of 0.87. Clearway Energy has a 12 month low of $24.02 and a 12 month high of $32.64.

Clearway Energy (NYSE:CWEN – Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.28. The firm had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Sell-side analysts predict that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.4384 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.45%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, June 2nd. Clearway Energy’s dividend payout ratio is presently 218.75%.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CWEN. King Luther Capital Management Corp raised its holdings 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 valued at $14,143,000 after buying an additional 525,450 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Clearway Energy by 79.1% in the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock valued at $24,665,000 after buying an additional 359,876 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Clearway Energy by 251.4% in the fourth 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. Jupiter Asset Management Ltd. raised its holdings in shares of Clearway Energy by 85.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company’s stock valued at $13,932,000 after buying an additional 247,460 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its holdings 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 valued at $72,772,000 after buying an additional 186,544 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

(Get Free Report)

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.

Featured Stories