Clearway Energy (NYSE:CWEN) Reaches New 1-Year High – Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price objective on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Roth Mkm restated a “buy” rating and issued a $34.00 target price (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $34.71.

Clearway Energy Stock Down 8.9 %

The business has a 50-day simple moving average of $27.84 and a 200-day simple moving average of $27.64. The company has a market cap of $5.67 billion, a PE ratio of 26.98, a P/E/G ratio of 1.75 and a beta of 0.85. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

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

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.4312 per share. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.15%. Clearway Energy’s payout ratio is presently 229.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Principal Street Partners LLC boosted its holdings in Clearway Energy by 1.7% in the 4th quarter. Principal Street Partners LLC now owns 210,400 shares of the company’s stock valued at $5,470,000 after purchasing an additional 3,606 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock valued at $12,235,000 after buying an additional 336,668 shares during the period. Squarepoint Ops LLC lifted its holdings in Clearway Energy by 88.0% in the fourth quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock valued at $4,920,000 after acquiring an additional 88,560 shares during the last quarter. Teza Capital Management LLC purchased a new position in Clearway Energy in the fourth quarter worth approximately $711,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Clearway Energy during the fourth quarter worth $166,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.