Clearway Energy (NYSE:CWEN) Reaches New 12-Month High - What's Next?

Shares of Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $31.14 and last traded at $31.13, with a volume of 184421 shares. The stock had previously closed at $30.59.

Analyst Ratings Changes

A number of analysts recently issued reports on CWEN shares. Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Roth Mkm reissued a "buy" rating and set a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a research report on Tuesday, March 25th. They set a "buy" rating and a $38.00 target price for the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.50.

Clearway Energy Price Performance

The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 1.75 and a beta of 0.87. The business's 50-day moving average price is $29.46 and its two-hundred day moving average price is $28.05.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.28. The firm had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. 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%. The ex-dividend date of this dividend is Monday, June 2nd. Clearway Energy's payout ratio is currently 218.75%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WBI Investments LLC raised its position in Clearway Energy by 5.0% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Clearway Energy by 12.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company's stock worth $1,070,000 after acquiring an additional 3,787 shares in the last quarter. Gotham Asset Management LLC raised its position in Clearway Energy by 79.1% in the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock worth $24,665,000 after acquiring an additional 359,876 shares in the last quarter. Hancock Whitney Corp raised its position in Clearway Energy by 13.3% in the first quarter. Hancock Whitney Corp now owns 68,193 shares of the company's stock worth $2,064,000 after acquiring an additional 8,016 shares in the last quarter. Finally, Ardsley Advisory Partners LP bought a new stake in Clearway Energy in the first quarter worth about $1,514,000. 84.53% of the stock is currently owned by institutional investors.

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.