Clearway Energy (NYSE:CWEN) Shares Gap Up to $32.76

Clearway Energy, Inc. (NYSE:CWENGet Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $32.76, but opened at $33.80. Clearway Energy shares last traded at $34.27, with a volume of 2,707 shares trading hands.

Several equities research analysts have issued reports on CWEN shares. StockNews.com started coverage on shares of Clearway Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet cut shares of Clearway Energy from a “b-” rating to a “c+” rating in a research note on Monday, May 9th. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Clearway Energy in a research report on Friday, May 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy has an average rating of “Hold” and an average target price of $36.20.

The company has a market cap of $6.80 billion, a price-to-earnings ratio of 252.00, a P/E/G ratio of 7.02 and a beta of 0.68. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.90 and a quick ratio of 0.87. The firm’s fifty day moving average price is $33.91 and its 200-day moving average price is $34.57.

Clearway Energy (NYSE:CWENGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Clearway Energy had a net margin of 1.27% and a return on equity of 0.52%. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $244.91 million. As a group, equities analysts forecast that Clearway Energy, Inc. will post 0.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be issued a $0.354 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.42 annualized dividend and a yield of 4.20%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. Clearway Energy’s dividend payout ratio is presently 1,069.23%.

Institutional investors have recently modified their holdings of the business. Bramshill Investments LLC raised its position in Clearway Energy by 70.3% in the third quarter. Bramshill Investments LLC now owns 72,524 shares of the company’s stock worth $2,195,000 after acquiring an additional 29,933 shares in the last quarter. Profund Advisors LLC acquired a new stake in Clearway Energy during the 4th quarter worth about $207,000. First Trust Advisors LP raised its holdings in Clearway Energy by 20.8% during the 4th quarter. First Trust Advisors LP now owns 788,800 shares of the company’s stock worth $28,420,000 after buying an additional 136,015 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Clearway Energy by 192.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 65,900 shares of the company’s stock worth $1,995,000 after buying an additional 43,400 shares during the period. Finally, Endurance Wealth Management Inc. raised its holdings in Clearway Energy by 3.0% during the 4th quarter. Endurance Wealth Management Inc. now owns 87,926 shares of the company’s stock worth $3,168,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 34.38% of the company’s stock.

About Clearway Energy (NYSE:CWEN)

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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