Clearway Energy (NYSE:CWEN) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Clearway Energy (NYSE:CWEN) in a research report released on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $35.00 target price on the stock.

Several other brokerages have also weighed in on CWEN. Morgan Stanley upgraded shares of Clearway Energy from an equal weight rating to an overweight rating and increased their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reiterated a buy rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Clearway Energy from a sell rating to a hold rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $31.71.

Clearway Energy Stock Up 1.1 %

NYSE CWEN opened at $29.93 on Friday. The stock has a market capitalization of $6.05 billion, a P/E ratio of 45.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $29.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The stock has a fifty day moving average of $27.97 and a 200-day moving average of $25.80.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Clearway Energy will post 0.9 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 5.57%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio (DPR) is 251.52%.

Institutional Investors Weigh In On Clearway Energy

Several large investors have recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new position in Clearway Energy in the 4th quarter worth $25,000. Mather Group LLC. acquired a new position in shares of Clearway Energy during the first quarter worth about $37,000. Abich Financial Wealth Management LLC grew its holdings in shares of Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares in the last quarter. Whittier Trust Co. raised its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares during the last quarter. Finally, Quarry LP lifted its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares in the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Company Profile

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.