Vestmark Advisory Solutions Inc. Buys New Stake in Clearway Energy, Inc. $CWEN

Key Points

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Vestmark Advisory Solutions Inc. purchased a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 added to or reduced their stakes in the company. King Luther Capital Management Corp raised its stake in Clearway Energy by 1.1% in the 1st quarter. King Luther Capital Management Corp now owns 549,840 shares of the company's stock valued at $16,644,000 after acquiring an additional 5,890 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Clearway Energy by 4.8% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company's stock valued at $15,801,000 after acquiring an additional 24,000 shares during the period. Voloridge Investment Management LLC raised its stake in Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock valued at $12,235,000 after acquiring an additional 336,668 shares during the period. Gotham Asset Management LLC raised its stake in Clearway Energy by 16.1% in the 4th quarter. Gotham Asset Management LLC now owns 454,965 shares of the company's stock valued at $11,829,000 after acquiring an additional 63,027 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Clearway Energy by 56.4% during the first quarter. Victory Capital Management Inc. now owns 274,078 shares of the company's stock valued at $8,296,000 after buying an additional 98,876 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Price Performance

NYSE CWEN traded up $0.3450 on Friday, reaching $30.0750. The company had a trading volume of 775,396 shares, compared to its average volume of 985,007. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $6.08 billion, a PE ratio of 46.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The firm's 50 day moving average price is $31.53 and its 200 day moving average price is $29.81. Clearway Energy, Inc. has a 12 month low of $24.40 and a 12 month high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results 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 business had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.4456 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a yield of 5.9%. Clearway Energy's dividend payout ratio is currently 269.23%.

Analyst Upgrades and Downgrades

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

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.