Clearway Energy (NYSE:CWEN) Hits New 52-Week High at $29.61

Clearway Energy, Inc. (NYSE:CWEN)’s share price reached a new 52-week high on Tuesday . The company traded as high as $29.61 and last traded at $29.57, with a volume of 15772 shares trading hands. The stock had previously closed at $29.33.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CWEN. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

Clearway Energy Trading Down 0.2 %

The firm has a market cap of $5.92 billion, a PE ratio of 44.39, a PEG ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The business has a 50-day moving average price of $27.72 and a two-hundred day moving average price of $25.61.

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

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.417 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 251.52%.

Institutional Investors Weigh In On Clearway Energy

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

Clearway Energy Company Profile

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.