Roth Mkm Reaffirms “Buy” Rating for Clearway Energy (NYSE:CWEN)

Roth Mkm reiterated their buy rating on shares of Clearway Energy (NYSE:CWEN) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $34.00 price target on the stock, up from their previous price target of $33.00.

Separately, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.17.

Clearway Energy Trading Down 1.6 %

NYSE:CWEN opened at $27.31 on Tuesday. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.75 and a beta of 0.88. The firm has a fifty day simple moving average of $26.14 and a two-hundred day simple moving average of $27.53.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The firm had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Analysts expect that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.4312 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Monday, March 3rd. Clearway Energy’s dividend payout ratio is presently 165.38%.

Insiders Place Their Bets

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of Clearway Energy in the 3rd quarter worth approximately $3,532,000. Hancock Whitney Corp bought a new position in Clearway Energy in the 3rd quarter valued at $1,486,000. National Bank of Canada FI increased its position in shares of Clearway Energy by 1,778.8% during the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock valued at $948,000 after purchasing an additional 29,262 shares during the last quarter. abrdn plc increased its position in shares of Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after purchasing an additional 141,500 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of Clearway Energy during the 4th quarter worth $325,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.