Roth Mkm Reiterates Buy Rating for Clearway Energy (NYSE:CWEN)

Roth Mkm restated their buy rating on shares of Clearway Energy (NYSE:CWEN) in a research report released on Friday morning, Benzinga reports. The firm currently has a $32.00 target price on the stock, up from their previous target price of $30.00.

Several other equities analysts also recently issued reports on CWEN. StockNews.com downgraded shares of Clearway Energy from a hold rating to a sell rating in a report on Thursday, August 1st. Evercore ISI raised their price objective on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an outperform rating in a research report on Tuesday, May 14th. Finally, Morgan Stanley upgraded shares of Clearway Energy from an equal weight rating to an overweight rating and raised their price objective for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $31.17.

Clearway Energy Stock Performance

Shares of NYSE:CWEN traded up $1.33 during midday trading on Friday, reaching $28.76. The company’s stock had a trading volume of 512,797 shares, compared to its average volume of 879,120. The firm has a market capitalization of $5.81 billion, a PE ratio of 43.06 and a beta of 0.85. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $28.77. The stock has a fifty day moving average of $26.11 and a 200 day moving average of $24.49. The company has a quick ratio of 1.65, a current ratio of 1.46 and a debt-to-equity ratio of 1.19.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). The firm had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities analysts expect that Clearway Energy will post 0.74 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.417 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 5.80%. The ex-dividend date is Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 248.49%.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors have recently bought and sold shares of CWEN. Scarborough Advisors LLC purchased a new position in shares of Clearway Energy in the 4th quarter valued at about $25,000. Mather Group LLC. acquired a new stake in shares of Clearway Energy during the 1st quarter worth about $37,000. Avalon Trust Co acquired a new stake in shares of Clearway Energy during the 4th quarter worth about $47,000. Abich Financial Wealth Management LLC boosted its stake in shares of Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.

About Clearway Energy

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.