Clearway Energy (NYSE:CWEN) Trading Up 4.4% – Time to Buy?

Clearway Energy, Inc. (NYSE:CWEN)’s share price rose 4.4% on Wednesday . The company traded as high as $27.16 and last traded at $26.85. Approximately 96,190 shares were traded during trading, a decline of 89% from the average daily volume of 849,297 shares. The stock had previously closed at $25.71.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several recent research reports. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, CIBC boosted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Stock Up 4.0 %

The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 2.19 and a beta of 0.86. The firm’s fifty day moving average is $28.46 and its 200-day moving average is $26.87. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37.

Clearway Energy (NYSE:CWEN) last posted its quarterly 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). The company had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts predict that Clearway Energy, Inc. will post 0.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.24%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is 251.52%.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently modified their holdings of CWEN. Abich Financial Wealth Management LLC raised 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 purchasing an additional 625 shares during the period. Whittier Trust Co. raised its holdings in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the period. Quarry LP raised its holdings in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the period. nVerses Capital LLC raised its holdings in shares of Clearway Energy by 34.0% during the third quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after purchasing an additional 1,700 shares during the period. Finally, Spirit of America Management Corp NY raised its holdings in shares of Clearway Energy by 17.2% during the third quarter. Spirit of America Management Corp NY now owns 6,800 shares of the company’s stock worth $209,000 after purchasing an additional 1,000 shares during the period. 38.03% of the stock is owned by institutional investors and hedge funds.

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.