Oppenheimer & Co. Inc. Buys 1,260 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Oppenheimer & Co. Inc. lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,722 shares of the company’s stock after acquiring an additional 1,260 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Clearway Energy were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after purchasing an additional 22,059 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Clearway Energy during the first quarter valued at approximately $1,010,000. Friedenthal Financial bought a new stake in shares of Clearway Energy in the second quarter worth about $712,000. Edgestream Partners L.P. purchased a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $3,643,000. Finally, 1832 Asset Management L.P. purchased a new stake in Clearway Energy during the second quarter valued at $32,310,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Trading Up 1.6 %

Shares of CWEN stock opened at $28.36 on Friday. The company’s 50-day moving average price is $28.22 and its 200-day moving average price is $27.35. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.46 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company 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%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a yield of 5.98%. The ex-dividend date is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is 160.58%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CWEN. Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. CIBC upped their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, BNP Paribas assumed coverage on Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy 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.