Clearway Energy (NYSE:CWEN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN - Free Report) from a sell rating to a hold rating in a research note released on Wednesday morning.

Separately, Roth Mkm reissued a "buy" rating and issued a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.17.

Clearway Energy Price Performance

CWEN traded up $0.51 on Wednesday, reaching $27.29. The stock had a trading volume of 1,515,261 shares, compared to its average volume of 864,825. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm has a 50-day moving average of $26.20 and a 200-day moving average of $27.49.

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

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.4312 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date is Monday, March 3rd. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's dividend payout ratio is 229.33%.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, the director now owns 8,153 shares of the company's stock, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Clearway Energy by 7.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after acquiring an additional 186,544 shares during the last quarter. RWC Asset Management LLP increased its holdings in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock worth $32,480,000 after purchasing an additional 642,322 shares in the last quarter. abrdn plc raised its stake in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after purchasing an additional 141,500 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of Clearway Energy by 2.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock valued at $15,075,000 after purchasing an additional 14,296 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Clearway Energy by 2,840.3% during the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock valued at $14,143,000 after buying an additional 525,450 shares during the last quarter. 84.53% of the stock is 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.