Clearway Energy (NYSE:CWEN) Raised to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Clearway Energy (NYSE:CWEN) from a buy rating to a strong-buy rating in a report released on Tuesday morning, ValuEngine reports.

CWEN has been the topic of several other research reports. Zacks Investment Research raised shares of Clearway Energy from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Friday, July 19th. Bank of America raised shares of Clearway Energy from a neutral rating to a buy rating in a research note on Friday, July 19th. Finally, Evercore ISI reaffirmed a hold rating and issued a $16.00 price objective on shares of Clearway Energy in a research note on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $15.33.

Shares of CWEN opened at $17.57 on Tuesday. The firm’s 50 day moving average is $17.50 and its 200-day moving average is $15.88. The stock has a market capitalization of $3.46 billion, a P/E ratio of 38.20, a P/E/G ratio of 4.07 and a beta of 1.23. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.23 and a quick ratio of 0.21. Clearway Energy has a 12-month low of $12.12 and a 12-month high of $20.75.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.62). The business had revenue of $284.00 million during the quarter, compared to analyst estimates of $316.49 million. Clearway Energy had a negative return on equity of 4.14% and a negative net margin of 8.90%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. As a group, equities research analysts forecast that Clearway Energy will post 0.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, August 30th. Clearway Energy’s dividend payout ratio (DPR) is currently 173.91%.

Institutional investors have recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC purchased a new position in shares of Clearway Energy in the first quarter worth approximately $28,000. Quadrant Capital Group LLC increased its position in shares of Clearway Energy by 903.6% in the first quarter. Quadrant Capital Group LLC now owns 3,352 shares of the company’s stock worth $50,000 after acquiring an additional 3,018 shares in the last quarter. NumerixS Investment Technologies Inc increased its position in shares of Clearway Energy by 366.7% in the first quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $146,000 after acquiring an additional 7,700 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Clearway Energy in the first quarter worth approximately $157,000. Finally, Aveo Capital Partners LLC purchased a new position in shares of Clearway Energy in the first quarter worth approximately $162,000. 31.60% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

Featured Story: Limitations of analyzing profit margin

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Clearway Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearway Energy and related companies with MarketBeat.com's FREE daily email newsletter.