Clearway Energy (NYSE:CWEN) Reaches New 1-Year Low - What's Next?

Key Points

• Clearway Energy shares fell to a new 52-week low of $28.61, well below their 50-day and 200-day moving averages. Despite the decline, analysts maintain a “Moderate Buy” consensus with an average target price of $43.44.
• The company reported quarterly EPS of $1.00, significantly exceeding the $0.24 consensus estimate, while revenue of $481 million also topped expectations.
• Clearway raised its quarterly dividend to $0.475 per share, equating to a 6.6% annualized yield, though its 250% payout ratio highlights potential sustainability concerns.

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday. The company traded as low as $28.61 and last traded at $28.80, with a volume of 44175 shares changing hands. The stock had previously closed at $29.27.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CWEN. Weiss Ratings cut Clearway Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a report on Friday, July 17th. Zacks Research upgraded Clearway Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Finally, Evercore restated a "positive" rating and set a $40.00 price objective on shares of Clearway Energy in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.44.

Clearway Energy Stock Down 1.5%

The firm has a 50-day moving average of $31.80 and a two-hundred day moving average of $35.73. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 37.88 and a beta of 0.87. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, sell-side analysts anticipate that Clearway Energy, Inc. will post -0.36 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.4750 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.4676. This represents a $1.90 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Tuesday, September 1st. Clearway Energy's dividend payout ratio is 250.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Clearway Energy by 42.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,644 shares of the company's stock valued at $295,000 after acquiring an additional 2,571 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Clearway Energy during the second quarter worth $83,000. Maven Securities LTD purchased a new stake in shares of Clearway Energy during the second quarter worth $667,000. NewEdge Advisors LLC boosted its position in Clearway Energy by 51.0% during the second quarter. NewEdge Advisors LLC now owns 12,242 shares of the company's stock valued at $418,000 after purchasing an additional 4,136 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Clearway Energy by 276.7% during the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company's stock valued at $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Company Profile

Clearway Energy, Inc NYSE: CWEN is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company's operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway's renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.

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