Clearway Energy, Inc. (NYSE:CWEN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.70 and last traded at $32.57, with a volume of 184170 shares. The stock had previously closed at $31.97.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective on the stock. Wall Street Zen upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $35.50.
Check Out Our Latest Research Report on CWEN
Clearway Energy Stock Performance
The stock has a 50 day moving average of $30.56 and a 200 day moving average of $28.45. 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 company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 41.01, a price-to-earnings-growth ratio of 0.78 and a beta of 0.87.
Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned ($0.02) earnings per share. The company's revenue was up 13.3% compared to the same quarter last year. As a group, analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current year.
Clearway Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.4384 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date was Monday, June 2nd. This represents a $1.75 annualized dividend and a dividend yield of 5.35%. Clearway Energy's payout ratio is currently 218.75%.
Institutional Investors Weigh In On Clearway Energy
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudent Man Advisors LLC grew its holdings in Clearway Energy by 2.0% during the first quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock worth $794,000 after buying an additional 516 shares in the last quarter. Uniplan Investment Counsel Inc. grew its holdings in Clearway Energy by 0.9% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock worth $1,703,000 after buying an additional 586 shares in the last quarter. Monetary Management Group Inc. grew its stake in Clearway Energy by 4.3% in the 1st quarter. Monetary Management Group Inc. now owns 14,400 shares of the company's stock valued at $436,000 after purchasing an additional 600 shares during the period. WBI Investments LLC grew its stake in Clearway Energy by 5.0% in the 1st quarter. WBI Investments LLC now owns 17,544 shares of the company's stock valued at $531,000 after purchasing an additional 834 shares during the period. Finally, Alps Advisors Inc. grew its stake in Clearway Energy by 0.5% in 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 during the period. Institutional investors own 84.53% of the company's stock.
About Clearway Energy
(
Get Free Report)
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.
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