Clearway Energy (NYSE:CWEN) Sets New 52-Week Low at $29.36

Clearway Energy, Inc. (NYSE:CWEN – Get Rating) shares hit a new 52-week low during trading on Monday . The company traded as low as $29.36 and last traded at $30.16, with a volume of 73688 shares traded. The stock had previously closed at $29.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Oppenheimer lowered their price objective on Clearway Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. CIBC upgraded Clearway Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy has a consensus rating of “Moderate Buy” and an average price target of $37.75.

Clearway Energy Stock Up 3.0 %

The company has a current ratio of 2.07, a quick ratio of 1.99 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $32.62 and a 200-day simple moving average of $33.83. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, February 28th. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.37. Clearway Energy’s payout ratio is 30.06%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. ClearBridge Investments Ltd boosted its position in Clearway Energy by 49.5% during the 2nd quarter. ClearBridge Investments Ltd now owns 7,841,573 shares of the company’s stock worth $273,200,000 after acquiring an additional 2,594,686 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in Clearway Energy by 6.4% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,967,678 shares of the company’s stock worth $94,580,000 after acquiring an additional 177,224 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Clearway Energy by 7.1% in the first quarter. 1832 Asset Management L.P. now owns 1,595,041 shares of the company’s stock valued at $57,434,000 after buying an additional 106,426 shares during the period. Eventide Asset Management LLC lifted its holdings in shares of Clearway Energy by 35.5% in the third quarter. Eventide Asset Management LLC now owns 1,141,486 shares of the company’s stock valued at $36,356,000 after buying an additional 299,086 shares during the period. Finally, Electron Capital Partners LLC lifted its holdings in shares of Clearway Energy by 7.1% in the third quarter. Electron Capital Partners LLC now owns 861,164 shares of the company’s stock valued at $27,428,000 after buying an additional 57,258 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

About Clearway Energy

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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.