Clearway Energy (NYSE:CWEN) Coverage Initiated by Analysts at BNP Paribas

by · The Markets Daily

BNP Paribas began coverage on shares of Clearway Energy (NYSE:CWEN – Free Report) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $36.00 target price on the stock.

CWEN has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a buy rating and a $35.00 price objective for the company. StockNews.com raised shares of Clearway Energy from a sell rating to a hold rating in a research note on Friday, August 9th. Morgan Stanley raised shares of Clearway Energy from an equal weight rating to an overweight rating and increased their price objective for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Finally, Roth Mkm reaffirmed a buy rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $32.25.

Check Out Our Latest Stock Report on Clearway Energy

Clearway Energy Price Performance

CWEN stock opened at $29.56 on Tuesday. The company has a market capitalization of $5.98 billion, a P/E ratio of 44.79, a PEG ratio of 2.52 and a beta of 0.86. The company has a fifty day moving average price of $28.76 and a 200-day moving average price of $26.27. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $30.92.

Clearway Energy (NYSE:CWEN – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities analysts expect that Clearway Energy will post 0.85 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is presently 251.52%.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Silvia Mccoll Wealth Management LLC purchased a new stake in shares of Clearway Energy in the third quarter worth $244,000. Dana Investment Advisors Inc. boosted its stake in Clearway Energy by 12.0% in the 2nd quarter. Dana Investment Advisors Inc. now owns 43,445 shares of the company’s stock worth $1,073,000 after purchasing an additional 4,655 shares in the last quarter. Quarry LP boosted its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares in the last quarter. Creative Planning grew its position in Clearway Energy by 25.3% during the 2nd quarter. Creative Planning now owns 13,316 shares of the company’s stock valued at $329,000 after purchasing an additional 2,691 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Clearway Energy during the 2nd quarter valued at about $1,595,000. Institutional investors own 38.03% of the company’s stock.

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.

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