Clearway Energy (CWEN) Shares Down 5.6%

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Clearway Energy Inc (NYSE:CWEN)’s share price dropped 5.6% during mid-day trading on Tuesday . The company traded as low as $15.97 and last traded at $15.98. Approximately 2,758,362 shares traded hands during mid-day trading, an increase of 131% from the average daily volume of 1,194,032 shares. The stock had previously closed at $16.92.

CWEN has been the topic of a number of analyst reports. TheStreet upgraded shares of Clearway Energy from a “c” rating to a “b-” rating in a research note on Wednesday, October 31st. Zacks Investment Research raised Clearway Energy from a “sell” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Monday, October 15th. Guggenheim lowered Clearway Energy from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, ValuEngine lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, November 16th.

The company has a debt-to-equity ratio of 2.07, a current ratio of 0.56 and a quick ratio of 0.52. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 0.39 and a beta of 1.56.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, November 6th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.33). Clearway Energy had a return on equity of 6.01% and a net margin of 4.32%. The business had revenue of $292.00 million during the quarter, compared to analysts’ expectations of $295.37 million. Analysts anticipate that Clearway Energy Inc will post 1.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Monday, December 3rd were given a $0.331 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, November 30th. This represents a $1.32 dividend on an annualized basis and a yield of 8.09%. Clearway Energy’s payout ratio is 162.96%.

In other Clearway Energy news, major shareholder Infrastructure Investor Global bought 132,612 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was acquired at an average price of $16.59 per share, with a total value of $2,200,033.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. purchased a new position in Clearway Energy in the 3rd quarter worth about $29,000. Csenge Advisory Group purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $32,000. Kayne Anderson Capital Advisors LP purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $107,000. Whittier Trust Co. purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $114,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $129,000. 30.41% of the stock is owned by institutional investors and hedge funds.

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Clearway Energy Company Profile (NYSE:CWEN)

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

Read More: How Do You Calculate Return on Investment (ROI)?

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