Cerity Partners LLC Buys 55,863 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Cerity Partners LLC lifted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 488.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,309 shares of the company's stock after purchasing an additional 55,863 shares during the quarter. 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in Clearway Energy during the first quarter worth $27,000. New Age Alpha Advisors LLC bought a new position in Clearway Energy during the fourth quarter valued at about $31,000. Tsfg LLC bought a new position in Clearway Energy during the first quarter valued at about $61,000. NBT Bank N A NY purchased a new stake in Clearway Energy during the first quarter valued at about $71,000. Finally, Quarry LP lifted its holdings 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 purchasing an additional 1,783 shares during the last quarter. 84.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CWEN shares. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 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 Friday, June 27th. Finally, CIBC cut shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.67.

Clearway Energy Stock Performance

Clearway Energy stock traded down $0.16 during mid-day trading on Tuesday, reaching $32.56. 694,774 shares of the company were exchanged, compared to its average volume of 929,525. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22. The firm's 50-day simple moving average is $31.22 and its two-hundred day simple moving average is $28.91. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. The firm has a market cap of $6.58 billion, a PE ratio of 40.69, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.28. The firm had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. Clearway Energy's quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Equities analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.4384 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Monday, June 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is currently 218.75%.

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.