Blair William & Co. IL Invests $706,000 in Clearway Energy, Inc. (NYSE:CWEN)

Key Points

• Blair William & Co. has acquired a new stake in Clearway Energy, purchasing 23,310 shares valued at approximately $706,000 in the first quarter of this year.
• Clearway Energy announced an increase in its quarterly dividend to $0.4456 per share, reflecting a 5.9% yield, with the dividend payable on September 16th.
• Despite reporting a miss on earnings with EPS of $0.28, below the estimated $0.67, Clearway's revenue showed a 7.1% year-over-year increase.

Blair William & Co. IL bought a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,310 shares of the company's stock, valued at approximately $706,000.

Other large investors have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in Clearway Energy during the first quarter valued at approximately $27,000. Tsfg LLC purchased a new position in Clearway Energy during the first quarter valued at approximately $61,000. NBT Bank N A NY purchased a new position in Clearway Energy during the first quarter valued at approximately $71,000. SBI Securities Co. Ltd. grew its stake in Clearway Energy by 48.8% during the first 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. Finally, Quarry LP grew its stake in Clearway Energy by 48.6% during the fourth quarter. Quarry LP now owns 5,454 shares of the company's stock valued at $142,000 after acquiring an additional 1,783 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Analysts Set New Price Targets

CWEN has been the subject of several recent analyst reports. Wall Street Zen cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. CIBC cut shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research note on Saturday, July 19th. Jefferies Financial Group lifted their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $36.40.

Clearway Energy Price Performance

Clearway Energy stock traded up $0.07 during mid-day trading on Friday, hitting $29.32. 101,271 shares of the company traded hands, compared to its average volume of 925,070. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $33.22. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a fifty day moving average price of $31.65 and a 200-day moving average price of $29.59.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.39). The company had revenue of $392.00 million for the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.4456 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. Clearway Energy's dividend payout ratio (DPR) is presently 269.23%.

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.