Clearway Energy (NYSE:CWEN) Sets New 12-Month High - Should You Buy?

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.70 and last traded at $32.57, with a volume of 184170 shares changing hands. The stock had previously closed at $31.97.

Analyst Ratings Changes

Several analysts have issued reports on CWEN shares. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target on the stock. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $35.50.

Clearway Energy Trading Up 2.6%

The business's 50-day moving average price is $30.56 and its two-hundred day moving average price is $28.47. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.42. The firm has a market cap 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 posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. The business had revenue of $298.00 million during 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%. The company's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Equities analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share 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 given a $0.4384 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Monday, June 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is currently 218.75%.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors have recently modified their holdings of CWEN. Prudent Man Advisors LLC increased its position 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 purchasing an additional 516 shares during the last quarter. Uniplan Investment Counsel Inc. increased its position 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 purchasing an additional 586 shares during the last quarter. Monetary Management Group Inc. increased its position in Clearway Energy by 4.3% during 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 last quarter. WBI Investments LLC increased its position 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 purchasing an additional 834 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in Clearway Energy by 0.5% during the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company's stock worth $5,130,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds 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.