AGF Management Ltd. Acquires 5,497 Shares of Clearway Energy, Inc. $CWEN

AGF Management Ltd. grew its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 33.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,830 shares of the company’s stock after purchasing an additional 5,497 shares during the period. AGF Management Ltd.’s holdings in Clearway Energy were worth $699,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hilltop National Bank purchased a new position in shares of Clearway Energy during the second quarter valued at approximately $35,000. SBI Securities Co. Ltd. lifted its stake in Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock valued at $89,000 after acquiring an additional 966 shares in the last quarter. Wealthspire Advisors LLC purchased a new position in Clearway Energy during the 1st quarter worth $206,000. James Investment Research Inc. purchased a new position in Clearway Energy during the 1st quarter worth $227,000. Finally, Intrust Bank NA bought a new stake in Clearway Energy in the 1st quarter worth about $250,000. Institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CWEN. CIBC boosted their target price on Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Jefferies Financial Group boosted their price objective on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada began coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price target on the stock. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Evercore ISI assumed coverage on shares of Clearway Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $34.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.71.

Clearway Energy Price Performance

Clearway Energy stock opened at $35.55 on Wednesday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 15.19, a PEG ratio of 0.83 and a beta of 0.93. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $35.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The business has a fifty day moving average price of $30.65 and a 200-day moving average price of $30.74.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $427.72 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, equities research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.4528 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 1st. This represents a $1.81 annualized dividend and a dividend yield of 5.1%. Clearway Energy’s dividend payout ratio is 76.07%.

Clearway Energy Company Profile

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.