Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) hit a new 52-week high during mid-day trading 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.
Wall Street Analyst Weigh In
Several research analysts have recently commented on CWEN shares. Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a research report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company. StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Roth Mkm restated a "buy" rating and issued a $34.00 price target (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.71.
Check Out Our Latest Stock Analysis on CWEN
Clearway Energy Trading Down 0.6 %
The company's fifty day moving average price is $27.88 and its 200-day moving average price is $27.61. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 1.75 and a beta of 0.85. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.
Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $299.73 million. On average, research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.4312 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 6.34%. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's payout ratio is currently 229.33%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CWEN. CIBC Asset Management Inc lifted its stake in Clearway Energy by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 9,074 shares of the company's stock valued at $236,000 after acquiring an additional 414 shares during the period. Uniplan Investment Counsel Inc. raised its holdings in shares of Clearway Energy by 0.9% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock worth $1,703,000 after purchasing an additional 586 shares during the last quarter. Ballentine Partners LLC lifted its position in Clearway Energy by 5.2% during the fourth quarter. Ballentine Partners LLC now owns 15,916 shares of the company's stock valued at $414,000 after purchasing an additional 787 shares during the period. Quad Cities Investment Group LLC boosted its holdings in Clearway Energy by 7.6% in the fourth quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company's stock valued at $328,000 after purchasing an additional 886 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in Clearway Energy during the 4th quarter worth about $28,000. 84.53% of the stock is owned by institutional investors and hedge funds.
About Clearway Energy
(
Get Free Report)
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.
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