Clearway Energy (NYSE:CWEN) Reaches New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

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

Clearway Energy Stock Performance

The stock has a market cap of $6.27 billion, a P/E ratio of 29.78, a PEG ratio of 1.75 and a beta of 0.85. The stock has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $27.63. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $256.00 million for the quarter, compared to the consensus estimate of $299.73 million. Equities analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.4312 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.56%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is currently 229.33%.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Street Partners LLC lifted its position in Clearway Energy by 1.7% in the 4th quarter. Principal Street Partners LLC now owns 210,400 shares of the company’s stock valued at $5,470,000 after acquiring an additional 3,606 shares in the last quarter. Voloridge Investment Management LLC boosted its position in Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock worth $12,235,000 after acquiring an additional 336,668 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Clearway Energy by 88.0% during the 4th quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock worth $4,920,000 after acquiring an additional 88,560 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of Clearway Energy in the fourth quarter valued at approximately $711,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Clearway Energy in the fourth quarter worth $166,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

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.