Clearway Energy (NYSE:CWEN) Reaches New 1-Year High at $29.61

Clearway Energy, Inc. (NYSE:CWEN)’s stock price hit a new 52-week high during trading on Tuesday . The company 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

Several equities analysts recently commented on the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Roth Mkm reissued a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.17.

Clearway Energy Price Performance

The company has a 50 day simple moving average of $27.72 and a 200 day simple moving average of $25.61. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 44.39, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19.

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 analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, research analysts predict that Clearway Energy, Inc. will post 0.9 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a dividend yield of 5.69%. Clearway Energy’s payout ratio is presently 251.52%.

Institutional Trading of Clearway Energy

Several large investors have recently added to or reduced their stakes in CWEN. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Clearway Energy in the fourth quarter worth about $533,000. ING Groep NV purchased a new position in Clearway Energy in the 4th quarter worth approximately $850,000. WBI Investments LLC grew its position in Clearway Energy by 83.9% in the fourth quarter. WBI Investments LLC now owns 59,839 shares of the company’s stock valued at $1,641,000 after acquiring an additional 27,293 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Clearway Energy by 113.4% during the fourth quarter. Bank of Nova Scotia now owns 211,727 shares of the company’s stock valued at $5,808,000 after purchasing an additional 112,496 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Clearway Energy during the fourth quarter worth $274,000. 38.03% of the stock is currently 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.