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

Clearway Energy, Inc. (NYSE:CWEN) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $31.09 and last traded at $30.98, with a volume of 63316 shares changing hands. The stock had previously closed at $30.60.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CWEN shares. Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a “buy” rating and a $38.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.71.

Clearway Energy Trading Down 8.9 %

The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average price is $27.84 and its two-hundred day moving average price is $27.64. The firm has a market cap of $5.67 billion, a PE ratio of 26.98, a P/E/G ratio of 1.75 and a beta of 0.85.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $256.00 million during the quarter, compared to analysts’ expectations of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.4312 per share. The ex-dividend date was Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.15%. Clearway Energy’s dividend payout ratio (DPR) is 229.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in shares of Clearway Energy during the 3rd quarter worth $3,532,000. Oppenheimer & Co. Inc. grew its holdings in Clearway Energy by 14.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company’s stock worth $320,000 after acquiring an additional 1,599 shares in the last quarter. National Bank of Canada FI grew its holdings in Clearway Energy by 1,778.8% during the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock worth $948,000 after acquiring an additional 29,262 shares in the last quarter. abrdn plc increased its position in Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after purchasing an additional 141,500 shares during the period. Finally, King Luther Capital Management Corp raised its holdings in shares of Clearway Energy by 2,840.3% in the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company’s stock valued at $14,143,000 after purchasing an additional 525,450 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

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.