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

Shares of Clearway Energy, Inc. (NYSE:CWEN) hit a new 52-week low on Thursday. The stock traded as low as $28.61 and last traded at $28.80, with a volume of 44175 shares. The stock had previously closed at $29.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CWEN shares. Canadian Imperial Bank of Commerce set a $42.00 price target on Clearway Energy in a report on Friday, July 17th. UBS Group increased their price objective on Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Weiss Ratings lowered shares of Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Evercore reiterated a “positive” rating and issued a $40.00 target price on shares of Clearway Energy in a research note on Monday, August 17th. Finally, Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.44.

Clearway Energy Stock Down 1.5%

The stock has a market cap of $5.92 billion, a P/E 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. The business has a 50-day simple moving average of $31.80 and a 200-day simple moving average of $35.73.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The company had revenue of $481.00 million for the quarter, compared to analyst estimates of $473.92 million. Analysts expect that Clearway Energy, Inc. will post -0.36 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Tuesday, September 1st. This is a boost from Clearway Energy’s previous quarterly dividend of $0.4676. Clearway Energy’s dividend payout ratio (DPR) is 250.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its holdings in Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after acquiring an additional 981,488 shares during the period. Pacer Advisors Inc. increased its stake in shares of Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock worth $33,169,000 after purchasing an additional 7,215 shares during the period. Baird Financial Group Inc. increased its stake in shares of Clearway Energy by 12.9% in the second quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock worth $10,126,000 after purchasing an additional 33,922 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Clearway Energy by 31.3% during the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after purchasing an additional 58,138 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Clearway Energy by 276.7% during the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Institutional investors 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.