115,483 Shares of Clearway Energy, Inc. $CWEN Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 115,483 Clearway Energy shares in the third quarter, valued at about $3.38 million and representing 0.06% of the company.
• Institutional investors and hedge funds own 84.53% of Clearway Energy shares, with several other firms also adding or initiating positions recently.
• Analysts maintain a consensus Buy rating and a $42 price target. Clearway reported quarterly EPS of $1.00, beating the $0.24 consensus estimate, and revenue of $481 million.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 115,483 shares of the company's stock, valued at approximately $3,380,000. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Clearway Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allied Private Wealth LLC acquired a new position in shares of Clearway Energy in the second quarter valued at approximately $35,000. Fortitude Family Office LLC lifted its holdings in Clearway Energy by 590.5% during the 3rd quarter. Fortitude Family Office LLC now owns 1,160 shares of the company's stock worth $34,000 after buying an additional 992 shares in the last quarter. Eastern Bank acquired a new stake in Clearway Energy during the 2nd quarter worth approximately $57,000. First Bancorp Inc ME purchased a new position in Clearway Energy in the 2nd quarter valued at approximately $65,000. Finally, Community Financial Services Group LLC boosted its position in Clearway Energy by 40.0% in the 3rd quarter. Community Financial Services Group LLC now owns 2,100 shares of the company's stock valued at $61,000 after buying an additional 600 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $38.00 target price on shares of Clearway Energy in a report on Friday, September 4th. Weiss Ratings downgraded Clearway Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. Zacks Research upgraded shares of Clearway Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. Finally, UBS Group dropped their price objective on shares of Clearway Energy from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Clearway Energy has a consensus rating of "Buy" and a consensus target price of $42.00.

Clearway Energy Stock Performance

NYSE CWEN traded down $0.20 on Friday, reaching $34.08. The stock had a trading volume of 1,913,716 shares, compared to its average volume of 1,277,690. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The stock has a market cap of $7.00 billion, a P/E ratio of 44.84 and a beta of 0.81. The business's 50-day moving average price is $31.12 and its 200 day moving average price is $35.54. Clearway Energy, Inc. has a 12-month low of $28.57 and a 12-month high of $41.74.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, equities analysts expect that Clearway Energy, Inc. will post -0.29 earnings per share for the current year.

About Clearway Energy

Clearway Energy, Inc NYSE: CWEN owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company's renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.

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