Cary Street Partners Financial LLC Acquires New Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Cary Street Partners Financial LLC bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,409 shares of the company's stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CWEN. Mascoma Wealth Management LLC purchased a new stake in Clearway Energy during the fourth quarter valued at about $28,000. New Age Alpha Advisors LLC purchased a new stake in Clearway Energy during the fourth quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the fourth quarter worth about $51,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy in the third quarter worth about $71,000. Finally, Quarry LP increased its holdings in shares of Clearway Energy by 48.6% in the fourth quarter. Quarry LP now owns 5,454 shares of the company's stock worth $142,000 after buying an additional 1,783 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Stock Performance

Shares of NYSE:CWEN traded up $0.56 during midday trading on Tuesday, hitting $29.10. The company had a trading volume of 908,436 shares, compared to its average volume of 871,601. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.75 and a beta of 0.89. Clearway Energy, Inc. has a 12-month low of $24.02 and a 12-month high of $31.09. The company has a fifty day moving average of $28.95 and a two-hundred day moving average of $27.61.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.28. The company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.4384 dividend. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.03%. Clearway Energy's dividend payout ratio (DPR) is presently 218.75%.

Analysts Set New Price Targets

Several research firms have recently commented on CWEN. Roth Mkm reiterated a "buy" rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price objective on the stock. Finally, StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of "Moderate Buy" and an average price target of $34.71.

Clearway Energy 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.