Victory Capital Management Inc. Buys 98,876 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Victory Capital Management Inc. increased its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 56.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 274,078 shares of the company's stock after acquiring an additional 98,876 shares during the period. Victory Capital Management Inc. owned about 0.14% of Clearway Energy worth $8,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWEN. SBI Securities Co. Ltd. raised its stake in shares of 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 acquiring an additional 966 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Clearway Energy by 19.0% in the first quarter. Apollon Wealth Management LLC now owns 10,120 shares of the company's stock worth $306,000 after buying an additional 1,618 shares in the last quarter. Edgestream Partners L.P. bought a new position in Clearway Energy in the first quarter worth about $1,485,000. Prudent Man Advisors LLC raised its stake in Clearway Energy by 2.0% in the first quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock worth $794,000 after buying an additional 516 shares in the last quarter. Finally, Ballentine Partners LLC raised its stake in Clearway Energy by 5.8% in the first quarter. Ballentine Partners LLC now owns 16,835 shares of the company's stock worth $510,000 after buying an additional 919 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

NYSE CWEN traded down $0.04 during trading hours on Monday, reaching $31.42. The company's stock had a trading volume of 79,161 shares, compared to its average volume of 922,477. The stock has a market cap of $6.35 billion, a PE ratio of 39.23, a PEG ratio of 0.81 and a beta of 0.87. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The company's 50-day moving average is $31.50 and its two-hundred day moving average is $29.12. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $305.74 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Clearway Energy's revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.4384 per share. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Monday, June 2nd. Clearway Energy's payout ratio is currently 218.75%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CWEN. CIBC cut shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Saturday, July 19th. Jefferies Financial Group lifted their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Cibc World Mkts downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.33.

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.