Clearway Energy (NYSE:CWEN) Sets New 12-Month High – Here’s Why

Clearway Energy, Inc. (NYSE:CWEN) hit a new 52-week high on Thursday . The stock traded as high as $31.09 and last traded at $30.98, with a volume of 63316 shares changing hands. The stock had previously closed at $30.60.

Analyst Ratings Changes

Several research firms recently issued reports on CWEN. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They set a “buy” rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.71.

Clearway Energy Price Performance

The company’s 50-day moving average price is $27.69 and its two-hundred day moving average price is $27.63. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The company has a market capitalization of $6.27 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. As a group, sell-side analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.4312 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend was Monday, March 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 229.33%.

Institutional Trading of Clearway Energy

Institutional investors have recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new stake in shares of Clearway Energy during the fourth quarter worth $28,000. New Age Alpha Advisors LLC acquired a new stake in Clearway Energy in the 4th quarter worth about $31,000. SBI Securities Co. Ltd. bought a new stake in Clearway Energy in the 4th quarter valued at about $51,000. Wilmington Savings Fund Society FSB bought a new stake in Clearway Energy in the 3rd quarter valued at about $71,000. Finally, Quarry LP grew its position in shares of Clearway Energy by 51.6% during the 3rd quarter. Quarry LP now owns 3,671 shares of the company’s stock worth $113,000 after purchasing an additional 1,249 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

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.