StockNews.com Begins Coverage on Clearway Energy (NYSE:CWEN)

StockNews.com assumed coverage on shares of Clearway Energy (NYSE:CWEN – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the stock.

CWEN has been the topic of several other reports. CIBC raised Clearway Energy from a neutral rating to an outperform rating in a research report on Tuesday, January 10th. Oppenheimer cut their price target on Clearway Energy from $41.00 to $40.00 and set an outperform rating on the stock in a research report on Friday, February 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $37.75.

Clearway Energy Price Performance

Shares of CWEN opened at $30.20 on Thursday. The business’s 50-day moving average is $32.53 and its two-hundred day moving average is $33.71. The company has a market capitalization of $6.10 billion, a P/E ratio of 6.05, a P/E/G ratio of 1.57 and a beta of 0.72. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.99 and a current ratio of 2.07. Clearway Energy has a fifty-two week low of $29.36 and a fifty-two week high of $41.79.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a dividend of $0.375 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.37. This represents a $1.50 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Tuesday, February 28th. Clearway Energy’s dividend payout ratio is presently 30.06%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently modified their holdings of CWEN. Cowa LLC purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $38,000. Van ECK Associates Corp boosted its stake in shares of Clearway Energy by 74.9% during the 4th quarter. Van ECK Associates Corp now owns 1,289 shares of the company’s stock worth $41,000 after acquiring an additional 552 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $42,000. Phocas Financial Corp. purchased a new stake in shares of Clearway Energy during the 4th quarter worth about $43,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Clearway Energy during the 4th quarter worth about $49,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.