In yesterday’s Wall Street session, Clearway Energy Inc. (NYSE:CWEN) shares traded at $33.63, down -1.67% from the previous session.
11 analysts cover Clearway Energy Inc. (NYSE:CWEN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $41.00 and a low of $35.00, we find $39.00. Given the previous closing price of $34.20, this indicates a potential upside of 14.04 percent. CWEN stock price is now -0.86% away from the 50-day moving average and -2.99% away from the 200-day moving average. The market capitalization of the company currently stands at $6.66B.
The stock has received a hold rating from 3 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $38.14 as their price target over the next twelve months.
On June 10, 2022, CIBC recently initiated its ‘Neutral’ rating on the stock quoting a target price of $36, while ‘Oppenheimer’ rates the stock as ‘Outperform’.
In other news, Sotos Christopher S, PRESIDENT AND CEO sold 30,000 shares of the company’s stock on Nov 15. The stock was sold for $1,056,822 at an average price of $35.23. Upon completion of the transaction, the PRESIDENT AND CEO now directly owns 266,704 shares in the company, valued at $8.97 million. Insiders disposed of 389,167 shares of company stock worth roughly $13.09 million over the past 1 year. A total of 1.01% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CWEN stock. A new stake in Clearway Energy Inc. shares was purchased by AMUNDI during the first quarter worth $12,358,000. MILLENNIUM MANAGEMENT LLC invested $2,303,000 in shares of CWEN during the first quarter. In the first quarter, ENGINEERS GATE MANAGER LP acquired a new stake in Clearway Energy Inc. valued at approximately $2,266,000. NORDEA INVESTMENT MANAGEMENT AB acquired a new stake in CWEN for approximately $1,840,000. TWINBEECH CAPITAL LP purchased a new stake in CWEN valued at around $1,830,000 in the second quarter. In total, there are 378 active investors with 92.95% ownership of the company’s stock.
On Thursday morning Clearway Energy Inc. (NYSE: CWEN) stock kicked off with the opening price of $34.00. During the past 12 months, Clearway Energy Inc. has had a low of $29.61 and a high of $41.79. The fifty day moving average price for CWEN is $33.92 and a two-hundred day moving average price translates $34.67 for the stock.
The latest earnings results from Clearway Energy Inc. (NYSE: CWEN) was released for Jun, 2022. The company reported revenue of $340.0 million for the quarter, compared to $351.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.13 percent.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/01/2022 were paid a $0.3672 dividend. On an annualized basis, this represents a $1.47 dividend and a 4.37% percent yield. There was an ex-dividend date of 11/30/2022 for this dividend.
Clearway Energy Inc.(CWEN) Company Profile
Clearway Energy, Inc. operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc. and changed its name to Clearway Energy, Inc. in August 2018. Clearway Energy, Inc. was incorporated in 2012 and is based in Princeton, New Jersey. Clearway Energy, Inc. is a subsidiary of Clearway Energy Group LLC.