Ashton Thomas Securities LLC Invests $50,000 in Clearway Energy, Inc. (NYSE:CWEN)

Ashton Thomas Securities LLC bought a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,645 shares of the company’s stock, valued at approximately $50,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its holdings in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares in the last quarter. Quarry LP increased its holdings in Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the last quarter. nVerses Capital LLC lifted its holdings in Clearway Energy by 34.0% during the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after buying an additional 1,700 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its position in shares of Clearway Energy by 17.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 6,800 shares of the company’s stock worth $209,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Analysts Set New Price Targets

CWEN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Morgan Stanley raised 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 report on Wednesday, July 31st. Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Finally, CIBC upped their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Trading Up 1.0 %

Shares of CWEN opened at $26.95 on Thursday. The firm’s 50-day moving average is $28.24 and its two-hundred day moving average is $27.21. Clearway Energy, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $5.45 billion, a P/E ratio of 25.91, a PEG ratio of 2.36 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The business had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. On average, research analysts predict that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.29%. Clearway Energy’s payout ratio is 162.50%.

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.