Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $32.33 and last traded at $32.21, with a volume of 866127 shares trading hands. The stock had previously closed at $31.61.
Wall Street Analysts Forecast Growth
Several research analysts have commented on CWEN shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target on the stock. Roth Mkm reiterated a "buy" rating and issued a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.50.
Get Our Latest Report on CWEN
Clearway Energy Price Performance
The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The stock has a market cap of $6.51 billion, a P/E ratio of 30.97, a PEG ratio of 1.75 and a beta of 0.87. The firm's fifty day moving average price is $29.57 and its 200-day moving average price is $28.06.
Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $298.00 million during the quarter, compared to analysts' expectations of $305.74 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.
Clearway Energy Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.4384 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a dividend yield of 5.44%. Clearway Energy's dividend payout ratio (DPR) is presently 218.75%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CWEN. RWC Asset Management LLP raised its stake in Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock worth $32,480,000 after buying an additional 642,322 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Clearway Energy by 2,840.3% in the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after acquiring an additional 525,450 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Clearway Energy by 79.1% in the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock worth $24,665,000 after purchasing an additional 359,876 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Clearway Energy by 251.4% in the fourth quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock worth $12,235,000 after buying an additional 336,668 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Clearway Energy by 85.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock valued at $13,932,000 after purchasing an additional 247,460 shares during the last quarter. Institutional investors own 84.53% of the company's stock.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Clearway Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Clearway Energy wasn't on the list.
While Clearway Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
