9,067 Shares in Clearway Energy, Inc. (NYSE:CWEN) Bought by Wealthquest Corp

Key Points

• Wealthquest Corp has acquired a new stake in Clearway Energy, purchasing 9,067 shares valued at approximately $274,000.
• Clearway Energy reported earnings of $0.03 EPS for the quarter, exceeding expectations by $0.28, and showcased a 13.3% year-over-year revenue growth.
• The stock currently holds a consensus rating of "Hold" with a target price of $36.40, with various analysts recently downgrading their ratings on the stock.

Wealthquest Corp bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 9,067 shares of the company's stock, valued at approximately $274,000.

Several other institutional investors also recently bought and sold shares of CWEN. Prudent Man Advisors LLC raised its holdings in Clearway Energy by 2.0% in the first quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock valued at $794,000 after acquiring an additional 516 shares in the last quarter. Uniplan Investment Counsel Inc. boosted its holdings in Clearway Energy by 0.9% in the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock valued at $1,703,000 after purchasing an additional 586 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Clearway Energy by 0.5% in the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company's stock valued at $5,130,000 after purchasing an additional 862 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Clearway Energy in the first quarter valued at approximately $27,000. Finally, Ballentine Partners LLC boosted its holdings in Clearway Energy by 5.8% in the first quarter. Ballentine Partners LLC now owns 16,835 shares of the company's stock valued at $510,000 after purchasing an additional 919 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Shares of Clearway Energy stock traded down $0.20 during trading hours on Friday, hitting $32.43. 626,671 shares of the company were exchanged, compared to its average volume of 734,940. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $33.22. 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 50-day moving average of $31.69 and a 200-day moving average of $29.31. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 40.54, a P/E/G ratio of 0.82 and a beta of 0.87.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CWEN. Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. 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. Jefferies Financial Group upped their price target on Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Cibc World Mkts cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" 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.