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

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report)'s share price 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 traded. The stock had previously closed at $32.09.

Analyst Ratings Changes

Several research analysts recently weighed in on CWEN shares. Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Clearway Energy Trading Up 1.5%

The company has a 50 day simple moving average of $30.11 and a two-hundred day simple moving average of $28.25. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. The firm has a market cap of $6.49 billion, a PE ratio of 40.15, a P/E/G ratio of 0.75 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The firm had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Clearway Energy's revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.4384 dividend. This represents a $1.75 annualized dividend and a yield of 5.46%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date was Monday, June 2nd. Clearway Energy's dividend payout ratio is presently 218.75%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WBI Investments LLC grew its holdings in Clearway Energy by 5.0% during the first quarter. WBI Investments LLC now owns 17,544 shares of the company's stock worth $531,000 after acquiring an additional 834 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Clearway Energy by 12.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company's stock worth $1,070,000 after purchasing an additional 3,787 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Clearway Energy by 79.1% during the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock valued at $24,665,000 after purchasing an additional 359,876 shares in the last quarter. Hancock Whitney Corp lifted its stake in shares of Clearway Energy by 13.3% in the 1st quarter. Hancock Whitney Corp now owns 68,193 shares of the company's stock valued at $2,064,000 after purchasing an additional 8,016 shares during the period. Finally, Ardsley Advisory Partners LP purchased a new stake in Clearway Energy during the first quarter worth $1,514,000. 84.53% of the stock is owned by institutional investors and hedge funds.

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.