Cerity Partners LLC Raises Position in Clearway Energy, Inc. (NYSE:CWEN)

Cerity Partners LLC raised its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 488.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,309 shares of the company’s stock after purchasing an additional 55,863 shares during the period. Cerity Partners LLC’s holdings in Clearway Energy were worth $2,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Clearway Energy during the first quarter valued at approximately $280,000. M&T Bank Corp grew its stake 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 purchasing an additional 10,878 shares in the last quarter. Teza Capital Management LLC bought a new position in Clearway Energy in the fourth quarter worth approximately $711,000. D. E. Shaw & Co. Inc. grew its stake in 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 in the last quarter. Finally, Wealthquest Corp bought a new position in Clearway Energy in the first quarter worth approximately $274,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $32.94 on Monday. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 41.18, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.42. The business has a fifty day moving average of $31.22 and a 200 day moving average of $28.91. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $33.22.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. The business 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%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. As a group, research 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 given a dividend of $0.4384 per share. The ex-dividend date was Monday, June 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.32%. Clearway Energy’s dividend payout ratio (DPR) is 218.75%.

Analysts Set New Price Targets

CWEN has been the topic of several research analyst reports. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday, March 25th. They set a “buy” rating and a $38.00 target price on the stock. Finally, CIBC cut Clearway Energy from an “outperform” rating to a “neutral” rating in a research report on Saturday. Two investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

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.