Edgestream Partners L.P. Makes New Investment in Clearway Energy, Inc. (NYSE:CWEN)

Edgestream Partners L.P. acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 49,045 shares of the company's stock, valued at approximately $1,485,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CWEN. Alpine Bank Wealth Management bought a new position in shares of Clearway Energy in the first quarter valued at approximately $27,000. New Age Alpha Advisors LLC bought a new position in Clearway Energy during the fourth quarter valued at $31,000. Tsfg LLC bought a new position in Clearway Energy during the first quarter valued at $61,000. NBT Bank N A NY bought a new position in Clearway Energy during the first quarter valued at $71,000. Finally, Quarry LP grew 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 period. 84.53% of the stock is owned by institutional investors.

Clearway Energy Price Performance

Shares of CWEN stock traded up $0.59 on Friday, reaching $32.94. The company's stock had a trading volume of 867,573 shares, compared to its average volume of 880,115. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22. The company has a market capitalization of $6.66 billion, a P/E ratio of 41.18, a PEG ratio of 0.71 and a beta of 0.87. The stock's 50 day simple moving average is $31.22 and its 200-day simple moving average is $28.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The business had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. During the same quarter last year, the business posted ($0.02) earnings per share. The company's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.4384 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Monday, June 2nd. Clearway Energy's dividend payout ratio is presently 218.75%.

Analyst Ratings Changes

Several equities analysts have weighed in on CWEN shares. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. CIBC lowered Clearway Energy from an "outperform" rating to a "neutral" rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.50.

About Clearway Energy

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.