Clearway Energy (NYSE:CWEN) Reaches New 12-Month High - Time to Buy?

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.22 and last traded at $33.02, with a volume of 101027 shares. The stock had previously closed at $32.35.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CWEN. Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective on the stock. CIBC downgraded Clearway Energy from an "outperform" rating to a "neutral" rating in a research note on Saturday. Finally, Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Clearway Energy currently has an average rating of "Moderate Buy" and a consensus target price of $35.50.

Clearway Energy Stock Performance

The firm has a 50 day moving average price of $31.22 and a 200-day moving average price of $28.91. 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 company has a market cap of $6.66 billion, a P/E ratio of 41.18, a P/E/G ratio of 0.71 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.28. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. Clearway Energy's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts predict 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 was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.4384 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.32%. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is 218.75%.

Institutional Investors Weigh In On Clearway Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Prudent Man Advisors LLC lifted its stake in Clearway Energy by 2.0% in the first quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock valued at $794,000 after buying an additional 516 shares during the period. Uniplan Investment Counsel Inc. raised its position in shares of Clearway Energy by 0.9% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock valued at $1,703,000 after acquiring an additional 586 shares during the period. Monetary Management Group Inc. raised its holdings in Clearway Energy by 4.3% in the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company's stock worth $436,000 after purchasing an additional 600 shares during the period. WBI Investments LLC lifted 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 in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in shares of Clearway Energy by 0.5% during the 1st quarter. Alps Advisors Inc. now owns 169,464 shares of the company's stock valued at $5,130,000 after purchasing an additional 862 shares in the last quarter. 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.