Clearway Energy (NYSE:CWEN) Hits New 52-Week High - Here's Why

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company 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. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective for the company. Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Roth Mkm reissued a "buy" rating and set a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Clearway Energy Stock Up 1.2%

The business has a fifty day moving average of $29.28 and a 200 day moving average of $28.03. The company has a market capitalization of $6.26 billion, a PE ratio of 29.76, a PEG ratio of 1.75 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced 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 2.28% and a net margin of 8.94%. The company had revenue of $298.00 million during the quarter, compared to analysts' expectations of $305.74 million. During the same period last year, the business posted ($0.02) EPS. Clearway Energy's revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced 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 represents a $1.75 dividend on an annualized basis and a dividend yield of 5.66%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date is Monday, June 2nd. Clearway Energy's dividend payout ratio is presently 218.75%.

Institutional Trading of Clearway Energy

Large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in shares of Clearway Energy by 14.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock worth $320,000 after buying an additional 1,599 shares during the period. King Luther Capital Management Corp increased 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. Simmons Bank purchased a new stake in shares of Clearway Energy during the fourth quarter worth approximately $377,000. ABC Arbitrage SA purchased a new stake in shares of Clearway Energy during the fourth quarter worth approximately $325,000. Finally, ING Groep NV increased its stake in shares of Clearway Energy by 938.9% during the fourth quarter. ING Groep NV now owns 77,400 shares of the company's stock worth $2,012,000 after buying an additional 69,950 shares during the period. 84.53% of the stock is currently owned by hedge funds and other 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.