12 Best Electrical Infrastructure Stocks to Buy According to Analysts

2. Clearway Energy Inc. (NYSE:CWEN)  

Average Analyst Upside: 23.79%

Number of Hedge Fund Holders: 29

Clearway Energy Inc. (NYSE:CWEN) is a leading renewable energy company in the United States, managing a portfolio of 6,000 MW of installed capacity across various wind and solar projects. Back in 2022, the company sold its thermal business, raising $1.35 billion in cash to fuel the growth of its renewable energy assets, which are boosting its ability to increase its dividend, providing greater visibility into its future growth potential. Since then, the company has been actively investing in renewable energy, and as a result, expects to increase its dividend toward the upper end of its 5% to 8% annual target range through at least 2026.

Back in October, Clearway Energy Inc. (NYSE:CWEN) announced it had secured financing and started construction on two standalone solar and energy storage projects in Hopkins County, Texas. These projects—the 300-MW Pine Forest Solar and 200-MW Pine Forest Storage facilities—represent a $665 million investment aimed at enhancing Texas’ alternative energy infrastructure. Additionally, the company is advancing large-scale initiatives like the Daggett Storage I Project in San Bernardino County, featuring a 113.5 MW battery storage facility within a larger 482 MW solar and 394 MW storage complex.

On November 25, BofA Securities initiated coverage on Clearway Energy Inc. (NYSE:CWEN) with a Buy rating and a $33 price target, projecting a 22% total return. The firm highlighted Clearway’s strong relationship with its sponsor, Clearway Energy Group, which holds a 41.8% economic interest in the company. This partnership provides Clearway with access to a 30 GW development pipeline, ensuring a consistent flow of new acquisitions.

As of Q3 2024, 29 hedge funds held positions in Clearway Energy Inc. (NYSE:CWEN), with total stakes valued at $174.2 million.