Griffin Asset Management Inc. Has $685,000 Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Griffin Asset Management Inc. boosted its stake in Clearway Energy, Inc. (NYSE:CWEN) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,728 shares of the company’s stock after acquiring an additional 2,010 shares during the period. Griffin Asset Management Inc.’s holdings in Clearway Energy were worth $685,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. ING Groep NV acquired a new position in shares of Clearway Energy in the 4th quarter valued at about $850,000. Tidal Investments LLC lifted its stake in Clearway Energy by 74.5% in the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after buying an additional 22,059 shares during the period. Sei Investments Co. acquired a new position in Clearway Energy in the first quarter valued at approximately $1,010,000. Qsemble Capital Management LP acquired a new position in Clearway Energy in the first quarter valued at approximately $516,000. Finally, Meritage Portfolio Management grew its position in shares of Clearway Energy by 163.6% during the 4th quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock worth $3,731,000 after buying an additional 84,402 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $28.68 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of 43.45 and a beta of 0.85. The company’s 50-day moving average is $26.46 and its 200 day moving average is $24.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.65 and a current ratio of 1.46. Clearway Energy, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $29.20.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same quarter in the previous year, the company posted $0.33 EPS. Clearway Energy’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, equities research analysts forecast that Clearway Energy, Inc. will post 0.74 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a $0.417 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.67 annualized dividend and a dividend yield of 5.82%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s payout ratio is 251.52%.

Analysts Set New Price Targets

Several analysts have recently commented on CWEN shares. Roth Mkm restated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Evercore ISI boosted their price target on shares of Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

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.