Wealth Enhancement Advisory Services LLC Takes $280,000 Position in Clearway Energy, Inc. (NYSE:CWEN)

Wealth Enhancement Advisory Services LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,263 shares of the company's stock, valued at approximately $280,000.

Several other hedge funds have also recently modified their holdings of the stock. King Luther Capital Management Corp raised its stake in Clearway Energy by 2,840.3% during the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock valued at $14,143,000 after purchasing an additional 525,450 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Clearway Energy by 251.4% in the fourth 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. Jupiter Asset Management Ltd. raised its stake in shares of Clearway Energy by 85.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock valued at $13,932,000 after acquiring an additional 247,460 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in shares of Clearway Energy by 7.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock valued at $72,772,000 after acquiring an additional 186,544 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Clearway Energy in the fourth quarter valued at $3,271,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Trading Up 2.7%

Shares of NYSE CWEN traded up $0.84 during mid-day trading on Wednesday, reaching $32.42. The company had a trading volume of 832,455 shares, compared to its average volume of 881,705. The business's 50-day moving average is $30.66 and its 200-day moving average is $28.56. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 0.70 and a beta of 0.87. Clearway Energy, Inc. has a 52 week low of $24.22 and a 52 week high of $32.76.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $305.74 million. During the same period in the prior year, the business earned ($0.02) EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a yield of 5.41%. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date was Monday, June 2nd. Clearway Energy's dividend payout ratio is presently 218.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CWEN. Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They issued a "buy" rating and a $38.00 target price on the stock. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Clearway Energy has a consensus rating of "Moderate Buy" and a consensus target price of $35.50.

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.