Victory Capital Management Inc. Has $8.30 Million Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Victory Capital Management Inc. increased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 56.4% during the first quarter, Holdings Channel reports. The institutional investor owned 274,078 shares of the company’s stock after purchasing an additional 98,876 shares during the period. Victory Capital Management Inc.’s holdings in Clearway Energy were worth $8,296,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Clearway Energy during the 1st quarter worth approximately $280,000. M&T Bank Corp raised its stake in Clearway Energy by 75.8% during the 1st quarter. M&T Bank Corp now owns 25,225 shares of the company’s stock worth $764,000 after buying an additional 10,878 shares during the period. Cerity Partners LLC raised its stake in Clearway Energy by 488.1% during the 1st quarter. Cerity Partners LLC now owns 67,309 shares of the company’s stock worth $2,037,000 after buying an additional 55,863 shares during the period. Teza Capital Management LLC acquired a new position in Clearway Energy during the 4th quarter worth approximately $711,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Clearway Energy by 358.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 47,909 shares of the company’s stock worth $1,246,000 after purchasing an additional 37,461 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CWEN shares. Cibc World Mkts downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Jefferies Financial Group increased their price objective on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, CIBC downgraded Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Saturday, July 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Clearway Energy Stock Performance

CWEN stock opened at $31.81 on Friday. The firm has a market cap of $6.43 billion, a PE ratio of 39.77, a P/E/G ratio of 0.83 and a beta of 0.87. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average of $31.48 and a 200-day moving average of $29.04. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.28. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. Clearway Energy’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.4384 dividend. The ex-dividend date was Monday, June 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a dividend yield of 5.51%. Clearway Energy’s dividend payout ratio is currently 218.75%.

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.