Frank Rimerman Advisors LLC Takes $423,000 Position in Clearway Energy, Inc. $CWEN

Frank Rimerman Advisors LLC bought a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,726 shares of the company’s stock, valued at approximately $423,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Clearway Energy by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock valued at $69,482,000 after purchasing an additional 77,595 shares during the last quarter. RWC Asset Management LLP raised its holdings in shares of Clearway Energy by 12.2% in the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock valued at $21,061,000 after purchasing an additional 81,349 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Clearway Energy by 8.8% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock worth $17,656,000 after purchasing an additional 50,344 shares during the last quarter. Aberdeen Group plc increased its stake in Clearway Energy by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock valued at $16,463,000 after buying an additional 1,807 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Clearway Energy by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock worth $12,290,000 after buying an additional 5,142 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Up 1.1%

Shares of CWEN stock opened at $40.36 on Friday. Clearway Energy, Inc. has a 1 year low of $25.63 and a 1 year high of $41.51. The company’s fifty day simple moving average is $38.50 and its two-hundred day simple moving average is $34.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.13 and a quick ratio of 1.06. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 2.75 and a beta of 0.91.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The company had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $334.42 million. During the same quarter last year, the firm posted ($0.41) earnings per share. As a group, analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.4602 per share. This represents a $1.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is presently 129.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CWEN. Canadian Imperial Bank of Commerce raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and boosted their price objective for the stock from $37.00 to $38.00 in a research report on Tuesday, December 16th. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. Roth Mkm reiterated a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada boosted their price objective on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.