Clearway Energy (NYSE:CWEN) Reaches New 12-Month High at $29.61

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

Wall Street Analyst Weigh In

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

Clearway Energy Stock Performance

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 capitalization of $6.00 billion, a P/E ratio of 44.77, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The business’s 50 day simple moving average is $27.53 and its two-hundred day simple moving average is $25.53.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Clearway Energy’s revenue was down 9.9% on a year-over-year basis. Sell-side analysts anticipate that Clearway Energy, Inc. will post 0.9 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm 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. The ex-dividend date was Tuesday, September 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.62%. Clearway Energy’s dividend payout ratio (DPR) is 253.03%.

Hedge Funds Weigh In On Clearway Energy

Hedge funds have recently bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of Clearway Energy in the fourth quarter worth approximately $25,000. Mather Group LLC. purchased a new stake in Clearway Energy during the 1st quarter valued at $37,000. Abich Financial Wealth Management LLC lifted its holdings 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 valued at $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. boosted its stake 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 worth $50,000 after buying an additional 512 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares during the period. Hedge funds and other institutional investors 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.