Inspire Investing LLC Purchases New Position in Clearway Energy, Inc. $CWEN

Key Points

• Inspire Investing LLC has acquired a new position in Clearway Energy, purchasing 26,751 shares worth approximately $856,000, during the second quarter.
• Despite some analysts maintaining a "buy" rating for Clearway Energy, others have downgraded their recommendations, resulting in mixed ratings from analysts with an average rating of "Moderate Buy."
• Clearway Energy raised its quarterly dividend to $0.4456, reflecting an annualized yield of 5.7%, a positive change from the previous dividend of $0.44.

Inspire Investing LLC bought a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 26,751 shares of the company's stock, valued at approximately $856,000.

Several other large investors also recently modified their holdings of the stock. Alpine Bank Wealth Management bought a new position in Clearway Energy in the 1st quarter valued at $27,000. Hilltop National Bank purchased a new stake in Clearway Energy during the second quarter valued at about $35,000. Tsfg LLC purchased a new stake 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, SBI Securities Co. Ltd. boosted its position 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 buying an additional 966 shares during the period. Hedge funds and other institutional investors own 84.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CWEN shares. Roth Capital reaffirmed a "buy" rating and set a $38.00 price objective on shares of Clearway Energy in a research note on Monday, October 6th. Evercore ISI initiated coverage on shares of Clearway Energy in a research note on Monday, October 6th. They set an "in-line" rating and a $34.00 target price for the company. Cibc World Mkts downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group raised their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Clearway Energy has an average rating of "Moderate Buy" and a consensus target price of $36.29.

Clearway Energy Stock Down 1.7%

Shares of NYSE CWEN opened at $31.12 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 47.88, a P/E/G ratio of 1.22 and a beta of 0.89. The firm's 50-day moving average price is $29.53 and its 200-day moving average price is $30.13.

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

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $0.4456 dividend. This represents a $1.78 annualized dividend and a yield of 5.7%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, September 2nd. Clearway Energy's payout ratio is 273.85%.

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.

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