Blair William & Co. IL Takes $706,000 Position in Clearway Energy, Inc. (NYSE:CWEN)

Blair William & Co. IL purchased a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 23,310 shares of the company’s stock, valued at approximately $706,000.

A number of other hedge funds have also bought and sold shares of CWEN. Wealth Enhancement Advisory Services LLC acquired a new stake in Clearway Energy in the first quarter worth $280,000. M&T Bank Corp raised its position in Clearway Energy by 75.8% in the first quarter. M&T Bank Corp now owns 25,225 shares of the company’s stock worth $764,000 after acquiring an additional 10,878 shares during the period. Cerity Partners LLC raised its position in Clearway Energy by 488.1% in the first quarter. Cerity Partners LLC now owns 67,309 shares of the company’s stock worth $2,037,000 after acquiring an additional 55,863 shares during the period. Teza Capital Management LLC bought a new stake in shares of Clearway Energy in the fourth quarter valued at approximately $711,000. Finally, D. E. Shaw & Co. Inc. raised its position 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 valued at $1,246,000 after purchasing an additional 37,461 shares during the period. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Trading Down 0.6%

Shares of CWEN opened at $30.20 on Monday. The company’s fifty day moving average is $31.73 and its 200 day moving average is $29.54. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The stock has a market capitalization of $6.11 billion, a PE ratio of 46.45, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39). The company had revenue of $392.00 million for the quarter, compared to analysts’ expectations of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. Sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.4456 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Tuesday, September 2nd. Clearway Energy’s dividend payout ratio is presently 269.23%.

Analyst Ratings Changes

Several equities analysts recently commented on CWEN shares. Wall Street Zen cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Cibc World Mkts cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Jefferies Financial Group increased their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, CIBC cut shares of Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Saturday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.40.

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.