Clearway Energy (NYSE:CWEN) Hits New 1-Year High - Here's Why

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $32.64 and last traded at $31.72, with a volume of 1416747 shares changing hands. The stock had previously closed at $32.09.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CWEN. Roth Mkm reissued 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. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.50.

Clearway Energy Stock Down 0.4%

The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $6.38 billion, a P/E ratio of 39.47, a PEG ratio of 0.75 and a beta of 0.87. The company has a fifty day moving average price of $29.88 and a 200-day moving average price of $28.15.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.28. The business had revenue of $298.00 million for the quarter, compared to analysts' expectations of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. As a group, research analysts forecast 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, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.4384 per share. The ex-dividend date was Monday, June 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.55%. Clearway Energy's payout ratio is currently 218.75%.

Institutional Trading of Clearway Energy

Institutional investors have recently added to or reduced their stakes in the company. RWC Asset Management LLP grew its holdings 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 purchasing an additional 642,322 shares during the last quarter. King Luther Capital Management Corp lifted its stake 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 worth $14,143,000 after buying an additional 525,450 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Clearway Energy by 79.1% during the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock valued at $24,665,000 after buying an additional 359,876 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock valued at $12,235,000 after acquiring an additional 336,668 shares during the period. Finally, Jupiter Asset Management Ltd. increased its position in shares of Clearway Energy by 85.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock valued at $13,932,000 after acquiring an additional 247,460 shares during the period. Institutional investors own 84.53% of the company's stock.

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.