Clearway Energy (NYSE:CWEN) Hits New 52-Week High – Time to Buy?

Clearway Energy, Inc. (NYSE:CWEN) hit a new 52-week high during trading on Tuesday . The company traded as high as $35.75 and last traded at $35.31, with a volume of 908783 shares trading hands. The stock had previously closed at $35.03.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CWEN shares. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada assumed coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective on the stock. Evercore ISI started coverage on shares of Clearway Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $34.00 target price for the company. CIBC boosted their price target on shares of Clearway Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Cibc World Mkts downgraded shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.71.

Clearway Energy Stock Up 0.7%

The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The firm has a market cap of $7.23 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.84 and a beta of 0.93. The stock’s fifty day moving average is $30.79 and its two-hundred day moving average is $30.77.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm had revenue of $429.00 million during the quarter, compared to analyst estimates of $427.72 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, research analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.4528 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.1%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is currently 76.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mather Group LLC. purchased a new stake in Clearway Energy in the third quarter valued at approximately $29,000. Hilltop National Bank bought a new stake in shares of Clearway Energy during the 2nd quarter worth $35,000. Headlands Technologies LLC purchased a new position in Clearway Energy in the second quarter worth $43,000. SBI Securities Co. Ltd. raised its position in Clearway Energy by 48.8% during the first quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock valued at $89,000 after purchasing an additional 966 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Clearway Energy in the 2nd quarter worth about $215,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Company Profile

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.