Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.41 per share on Monday, June 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Monday, June 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40.
Clearway Energy has increased its dividend payment by an average of 13.6% per year over the last three years and has increased its dividend annually for the last 4 consecutive years.
Clearway Energy Stock Performance
Shares of CWEN stock traded up $0.34 during trading on Friday, hitting $26.83. The company’s stock had a trading volume of 261,956 shares, compared to its average volume of 907,781. The business has a fifty day moving average of $22.79 and a 200-day moving average of $23.77. The company has a market cap of $5.42 billion, a PE ratio of 38.94 and a beta of 0.86. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $31.72. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50.
Insiders Place Their Bets
In other Clearway Energy news, Director Se Totalenergies acquired 196,964 shares of the stock in a transaction dated Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the transaction, the director now directly owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
CWEN has been the topic of a number of research analyst reports. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Morgan Stanley increased their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Royal Bank of Canada reduced their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Finally, Oppenheimer upped their price objective on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.33.
Check Out Our Latest Analysis on Clearway Energy
Clearway Energy Company Profile
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.
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