Quad Cities Investment Group LLC bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,716 shares of the company’s stock, valued at approximately $359,000.
Several other hedge funds have also bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in shares of Clearway Energy in the fourth quarter worth about $25,000. Mather Group LLC. bought a new stake in Clearway Energy during the 1st quarter valued at approximately $37,000. Abich Financial Wealth Management LLC grew its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares in the last quarter. Whittier Trust Co. increased its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the last quarter. Finally, Quarry LP lifted its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares in the last quarter. Institutional investors own 38.03% of the company’s stock.
Clearway Energy Trading Down 1.0 %
NYSE CWEN traded down $0.29 on Thursday, hitting $27.86. 144,322 shares of the stock were exchanged, compared to its average volume of 842,927. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. Clearway Energy, Inc. has a 52-week low of $20.63 and a 52-week high of $30.92. The firm has a market capitalization of $5.63 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.35 and a beta of 0.86. The stock has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $26.65.
Clearway Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 5.99%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is presently 251.52%.
Wall Street Analyst Weigh In
CWEN has been the subject of a number of research analyst reports. BNP Paribas started coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.
Read Our Latest Stock Report on Clearway Energy
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.
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