Clearway Energy, Inc. $CWEN Shares Acquired by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,000 shares of the company’s stock after purchasing an additional 50,344 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in Clearway Energy were worth $17,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Clearway Energy by 12.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after purchasing an additional 3,787 shares in the last quarter. AGF Management Ltd. grew its holdings in shares of Clearway Energy by 33.7% during the second quarter. AGF Management Ltd. now owns 21,830 shares of the company’s stock worth $699,000 after buying an additional 5,497 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Clearway Energy in the second quarter valued at approximately $356,000. ABC Arbitrage SA acquired a new position in shares of Clearway Energy in the second quarter valued at approximately $504,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Clearway Energy by 6.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,375 shares of the company’s stock valued at $844,000 after buying an additional 1,553 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Price Performance

Clearway Energy stock opened at $37.85 on Thursday. Clearway Energy, Inc. has a 1 year low of $25.63 and a 1 year high of $41.51. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13. The firm has a 50 day moving average price of $36.88 and a 200 day moving average price of $33.70. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.63 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $334.42 million. Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.During the same period in the prior year, the business earned ($0.41) EPS. Sell-side analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.4602 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.84 annualized dividend and a dividend yield of 4.9%. Clearway Energy’s dividend payout ratio is 129.58%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their target price for the stock from $37.00 to $38.00 in a research report on Tuesday, December 16th. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 28th. Roth Mkm restated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a report on Tuesday, February 24th. Zacks Research downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.14.

About Clearway Energy

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.