Clearway Energy (NYSE:CWEN) Sets New 1-Year High at $29.95

Clearway Energy, Inc. (NYSE:CWEN)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $29.95 and last traded at $29.95, with a volume of 31740 shares. The stock had previously closed at $29.60.

Analyst Ratings Changes

CWEN has been the topic of several research reports. Jefferies Financial Group began coverage on shares of Clearway Energy in a report on Friday. They issued a “buy” rating and a $35.00 price target on the stock. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and an average target price of $31.71.

Clearway Energy Stock Performance

The firm has a fifty day moving average price of $27.86 and a 200 day moving average price of $25.74. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. The firm has a market cap of $6.02 billion, a PE ratio of 44.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period last year, the business earned $0.33 EPS. Clearway Energy’s revenue was down 9.9% compared to the same quarter last year. As a group, equities research analysts expect that Clearway Energy, Inc. will post 0.9 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.417 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.60%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio is currently 251.52%.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently bought and sold shares of CWEN. Scarborough Advisors LLC purchased a new stake in shares of Clearway Energy during the 4th quarter worth $25,000. Mather Group LLC. purchased a new stake in Clearway Energy during the 1st quarter worth about $37,000. Abich Financial Wealth Management LLC boosted its position in shares of Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares during the last quarter. Institutional investors and hedge funds own 38.03% 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.