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

Wealth Enhancement Advisory Services LLC acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,263 shares of the company's stock, valued at approximately $280,000.

Other hedge funds also recently made changes to their positions in the company. Courier Capital LLC boosted its stake in Clearway Energy by 7.7% during the 1st quarter. Courier Capital LLC now owns 33,164 shares of the company's stock worth $1,004,000 after acquiring an additional 2,375 shares during the last quarter. Quad Cities Investment Group LLC increased its holdings in Clearway Energy by 15.5% during the first quarter. Quad Cities Investment Group LLC now owns 14,556 shares of the company's stock worth $441,000 after buying an additional 1,954 shares during the last quarter. Douglas Lane & Associates LLC acquired a new position in Clearway Energy during the first quarter worth $378,000. Principal Street Partners LLC increased its holdings in shares of Clearway Energy by 1.7% in the fourth quarter. Principal Street Partners LLC now owns 210,400 shares of the company's stock valued at $5,470,000 after purchasing an additional 3,606 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings 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 purchasing an additional 336,668 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Analysts Set New Price Targets

CWEN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price objective for the company. Wall Street Zen upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.50.

Clearway Energy Stock Down 1.2%

Shares of NYSE CWEN traded down $0.39 during trading on Friday, reaching $31.86. The company had a trading volume of 584,704 shares, compared to its average volume of 884,640. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $32.76. The stock has a market cap of $6.44 billion, a PE ratio of 39.84, a P/E/G ratio of 0.69 and a beta of 0.87. The business's 50-day moving average is $30.85 and its 200 day moving average is $28.67. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Clearway Energy's revenue was up 13.3% on a year-over-year basis. As a group, equities analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared 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 positive change 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 5.50%. The ex-dividend date of this dividend was Monday, June 2nd. Clearway Energy's dividend payout ratio (DPR) is currently 218.75%.

About Clearway Energy

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.