66,474 Shares in Clearway Energy, Inc. (NYSE:CWEN) Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 66,474 shares of the company's stock, valued at approximately $2,012,000.

Several other institutional investors have also recently made changes to their positions in CWEN. Mascoma Wealth Management LLC purchased a new position in Clearway Energy during the fourth quarter worth about $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Clearway Energy during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Clearway Energy during the fourth quarter worth $51,000. Quarry LP boosted its position in shares of Clearway Energy by 48.6% during 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. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Clearway Energy in the fourth quarter valued at $166,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Up 1.3%

Shares of Clearway Energy stock traded up $0.42 during trading on Wednesday, hitting $32.06. 690,188 shares of the stock were exchanged, compared to its average volume of 875,035. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 40.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87. The firm's 50-day moving average price is $29.64 and its 200 day moving average price is $28.08. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.42. Clearway Energy, Inc. has a 12-month low of $24.02 and a 12-month high of $32.33.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. During the same period in the previous year, the business earned ($0.02) EPS. Clearway Energy's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 yield of 5.47%. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio (DPR) is currently 218.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 target price on the stock. Wall Street Zen cut Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, Roth Mkm reiterated a "buy" rating and issued a $34.00 target price (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Clearway Energy has an average rating of "Moderate Buy" and a consensus price target of $35.50.

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.