Analysts Anticipate Clearway Energy Inc (CWEN) to Post $0.22 EPS

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Shares of Clearway Energy Inc (NYSE:CWEN) have been given a consensus broker rating score of 2.60 (Hold) from the five brokers that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokerages have set a 1-year consensus price target of $19.33 for the company and are expecting that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also assigned Clearway Energy an industry rank of 36 out of 257 based on the ratings given to related companies.

Several equities research analysts have recently weighed in on CWEN shares. TheStreet upgraded Clearway Energy from a “c” rating to a “b-” rating in a research report on Wednesday, October 31st. Zacks Investment Research upgraded Clearway Energy from a “sell” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Monday, October 15th.

Shares of CWEN traded down $0.72 during midday trading on Thursday, hitting $16.37. 1,976,700 shares of the company traded hands, compared to its average volume of 625,651. Clearway Energy has a one year low of $15.55 and a one year high of $20.75. The stock has a market cap of $3.79 billion, a PE ratio of 20.21, a P/E/G ratio of 0.53 and a beta of 1.83. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 2.07.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.33). Clearway Energy had a net margin of 4.32% and a return on equity of 6.01%. The company had revenue of $292.00 million for the quarter, compared to the consensus estimate of $295.37 million. Analysts expect that Clearway Energy will post 1.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.331 per share. The ex-dividend date is Friday, November 30th. This is a boost from Clearway Energy’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 8.09%. Clearway Energy’s dividend payout ratio is currently 158.02%.

In related news, major shareholder Infrastructure Investor Global purchased 59,727 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were purchased at an average cost of $19.75 per share, for a total transaction of $1,179,608.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in shares of Clearway Energy during the third quarter worth about $83,475,000. Beach Investment Counsel Inc. PA purchased a new position in shares of Clearway Energy during the third quarter worth about $22,539,000. Verition Fund Management LLC purchased a new stake in Clearway Energy in the third quarter worth approximately $7,077,000. Mcclain Value Management LLC purchased a new stake in Clearway Energy in the third quarter worth approximately $5,710,000. Finally, CQS Cayman LP purchased a new stake in Clearway Energy in the third quarter worth approximately $4,489,000. 28.95% of the stock is owned by institutional investors.

Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

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