Clearway Energy (NYSE:CWEN) Stock Price Down 5.7%

Clearway Energy, Inc. (NYSE:CWEN) shares were down 5.7% during trading on Monday . The stock traded as low as $24.69 and last traded at $24.69. Approximately 455,131 shares changed hands during trading, a decline of 49% from the average daily volume of 885,534 shares. The stock had previously closed at $26.17.

Wall Street Analyst Weigh In

Several analysts have recently commented on CWEN shares. Roth Mkm increased their price objective on Clearway Energy from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, May 13th. Evercore ISI raised their target price on Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Clearway Energy Price Performance

The firm has a 50-day simple moving average of $26.26 and a two-hundred day simple moving average of $24.49. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 38.41 and a beta of 0.86. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 1.50.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.25. The company had revenue of $263.00 million for the quarter, compared to the consensus estimate of $286.26 million. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. Clearway Energy’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, analysts predict that Clearway Energy, Inc. will post 1.01 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.47%. Clearway Energy’s dividend payout ratio (DPR) is 248.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new position in Clearway Energy in the 4th quarter worth approximately $25,000. Mather Group LLC. purchased a new stake in shares of Clearway Energy during the 1st quarter valued at approximately $37,000. Avalon Trust Co purchased a new stake in shares of Clearway Energy during the 4th quarter valued at approximately $47,000. Abich Financial Wealth Management LLC raised its position in shares of Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Clearway Energy during the 4th quarter valued at approximately $175,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.