Wealthquest Corp Acquires New Stake in Clearway Energy, Inc. (NYSE:CWEN)

Wealthquest Corp bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,067 shares of the company's stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Clearway Energy by 7.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after purchasing an additional 186,544 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after purchasing an additional 14,296 shares in the last quarter. King Luther Capital Management Corp increased its holdings in Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after purchasing an additional 525,450 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in Clearway Energy by 85.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after purchasing an additional 247,460 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in 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 purchasing an additional 336,668 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

Clearway Energy Stock Performance

Shares of CWEN stock traded up $0.06 during trading on Friday, hitting $32.17. The company's stock had a trading volume of 1,361,119 shares, compared to its average volume of 882,965. The company has a market cap of $6.50 billion, a PE ratio of 40.22, a P/E/G ratio of 0.76 and a beta of 0.87. 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 business has a fifty day moving average of $30.17 and a 200-day moving average of $28.28. Clearway Energy, Inc. has a 52 week low of $24.02 and a 52 week high of $32.64.

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

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.4384 dividend. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.75 annualized dividend and a yield of 5.45%. Clearway Energy's dividend payout ratio is presently 218.75%.

Analysts Set New Price Targets

CWEN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Clearway Energy in a report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective for the company. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.