RPG Investment Advisory LLC Makes New $321,000 Investment in Clearway Energy, Inc. $CWEN

Key Points

• RPG Investment Advisory LLC acquired 10,620 shares of Clearway Energy, valued at approximately $321,000, indicating growing institutional interest in the company.
• Clearway Energy reported a quarterly EPS of $0.28, falling short of the consensus estimate of $0.67, with a revenue of $392 million compared to an expected $428.33 million.
• The company announced a quarterly dividend of $0.4456, which represents an annualized rate of $1.78 and a dividend yield of 6.0%, slightly up from the previous dividend.

RPG Investment Advisory LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,620 shares of the company's stock, valued at approximately $321,000.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Clearway Energy in the first quarter worth about $280,000. M&T Bank Corp grew its stake in shares of Clearway Energy by 75.8% in the first quarter. M&T Bank Corp now owns 25,225 shares of the company's stock worth $764,000 after acquiring an additional 10,878 shares during the period. Cerity Partners LLC grew its stake in shares of Clearway Energy by 488.1% in the first quarter. Cerity Partners LLC now owns 67,309 shares of the company's stock worth $2,037,000 after acquiring an additional 55,863 shares during the period. Teza Capital Management LLC bought a new stake in shares of Clearway Energy in the fourth quarter worth approximately $711,000. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Clearway Energy by 358.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 47,909 shares of the company's stock worth $1,246,000 after acquiring an additional 37,461 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CWEN has been the subject of a number of research analyst reports. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target for the company. in a research note on Saturday, July 19th. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group boosted 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. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Clearway Energy currently has an average rating of "Moderate Buy" and an average target price of $36.40.

Clearway Energy Stock Performance

NYSE CWEN traded up $0.22 during trading hours on Wednesday, hitting $29.91. 188,355 shares of the company's stock traded hands, compared to its average volume of 932,550. The business's fifty day moving average price is $31.45 and its two-hundred day moving average price is $29.84. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $6.05 billion, a P/E ratio of 45.82, a P/E/G ratio of 1.01 and a beta of 0.87. Clearway Energy, Inc. has a 52 week low of $24.40 and a 52 week high of $33.22.

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 business 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 business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Equities research analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.4456 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.0%. Clearway Energy's dividend payout ratio (DPR) is currently 269.23%.

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.