Vestmark Advisory Solutions Inc. Acquires New Position in Clearway Energy, Inc. $CWEN

Key Points

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Vestmark Advisory Solutions Inc. bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,788 shares of the company's stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. King Luther Capital Management Corp boosted its stake in Clearway Energy by 1.1% during the 1st quarter. King Luther Capital Management Corp now owns 549,840 shares of the company's stock valued at $16,644,000 after purchasing an additional 5,890 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Clearway Energy by 4.8% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company's stock worth $15,801,000 after buying an additional 24,000 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock worth $12,235,000 after buying an additional 336,668 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Clearway Energy by 16.1% during the 4th quarter. Gotham Asset Management LLC now owns 454,965 shares of the company's stock worth $11,829,000 after buying an additional 63,027 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Clearway Energy by 56.4% during the 1st quarter. Victory Capital Management Inc. now owns 274,078 shares of the company's stock worth $8,296,000 after buying an additional 98,876 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CWEN has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. CIBC downgraded shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research report on Saturday, July 19th. 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. Finally, Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Clearway Energy currently has an average rating of "Moderate Buy" and an average price target of $36.40.

Clearway Energy Price Performance

Shares of NYSE CWEN traded up $0.3450 during midday trading on Friday, reaching $30.0750. The company's stock had a trading volume of 775,396 shares, compared to its average volume of 935,731. The company has a 50 day moving average price of $31.56 and a 200 day moving average price of $29.73. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 46.27, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. 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 one year low of $24.40 and a one year high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.4456 dividend. This represents a $1.78 annualized dividend and a dividend yield of 5.9%. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is 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.