Wealthquest Corp Takes $274,000 Position in Clearway Energy, Inc. (NYSE:CWEN)

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

Several other large investors have also recently bought and sold shares of CWEN. Alpine Bank Wealth Management bought a new stake in shares of Clearway Energy in the 1st quarter worth about $27,000. New Age Alpha Advisors LLC bought a new stake in shares of Clearway Energy in the 4th quarter worth about $31,000. Tsfg LLC bought a new stake in shares of Clearway Energy in the 1st quarter worth about $61,000. NBT Bank N A NY bought a new stake in Clearway Energy during the 1st quarter worth about $71,000. Finally, SBI Securities Co. Ltd. grew its holdings in Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after acquiring an additional 966 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Up 1.3%

CWEN stock traded up $0.41 during mid-day trading on Monday, hitting $32.81. 171,387 shares of the company were exchanged, compared to its average volume of 915,936. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. The firm has a market cap of $6.63 billion, a P/E ratio of 41.03, a P/E/G ratio of 0.81 and a beta of 0.87. The firm's 50 day simple moving average is $31.69 and its 200 day simple moving average is $29.35. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.22.

Analyst Ratings Changes

A number of equities research analysts have commented on CWEN shares. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Jefferies Financial Group upped their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, CIBC downgraded 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 research report on Saturday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $36.40.

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.