Clearway Energy, Inc. (NYSE:CWEN) Shares Purchased by Creative Planning

Creative Planning raised its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 25.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 13,316 shares of the company’s stock after acquiring an additional 2,691 shares during the quarter. Creative Planning’s holdings in Clearway Energy were worth $329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Clearway Energy during the first quarter worth $37,000. Abich Financial Wealth Management LLC increased its stake in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the last quarter. MQS Management LLC bought a new stake in shares of Clearway Energy in the first quarter worth $228,000. Finally, Fulton Bank N.A. increased its stake in shares of Clearway Energy by 7.1% in the first quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock worth $240,000 after buying an additional 688 shares during the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CWEN shares. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Roth Mkm reiterated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. Finally, BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Clearway Energy Stock Down 2.2 %

CWEN opened at $27.54 on Friday. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 41.73, a P/E/G ratio of 2.35 and a beta of 0.86. The business has a 50 day moving average of $28.83 and a 200-day moving average of $26.65.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.417 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 6.06%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is currently 251.52%.

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.