RPG Investment Advisory LLC Purchases New Position 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 acquired a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,620 shares of the company's stock, valued at approximately $321,000.

A number of other institutional investors have also recently made changes to their positions in the business. Monetary Management Group Inc. boosted its position in shares of Clearway Energy by 4.3% in the 1st quarter. Monetary Management Group Inc. now owns 14,400 shares of the company's stock worth $436,000 after purchasing an additional 600 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Clearway Energy in the 1st quarter worth $417,000. Aigen Investment Management LP acquired a new stake in shares of Clearway Energy in the 1st quarter worth $276,000. King Luther Capital Management Corp boosted its position in shares of Clearway Energy by 1.1% in the 1st quarter. King Luther Capital Management Corp now owns 549,840 shares of the company's stock worth $16,644,000 after purchasing an additional 5,890 shares in the last quarter. Finally, Intrust Bank NA acquired a new stake in shares of Clearway Energy in the 1st quarter worth $250,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Analyst Ratings Changes

CWEN has been the subject of a number of research reports. Wall Street Zen cut Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Cibc World Mkts cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Jefferies Financial Group lifted their price target on Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, CIBC cut Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target for the company. in a research report on Saturday, July 19th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Clearway Energy Stock Performance

Shares of CWEN stock traded up $0.3450 on Friday, hitting $30.0750. The company had a trading volume of 775,396 shares, compared to its average volume of 985,007. The firm has a market cap of $6.08 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a 50-day moving average price of $31.53 and a 200-day moving average price of $29.81. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $392.00 million during the quarter, compared to analyst estimates 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 period last year, the firm earned $0.43 EPS. As a group, equities research 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 will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $0.4456 dividend. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.78 annualized dividend and a dividend yield of 5.9%. Clearway Energy's payout ratio is presently 269.23%.

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.