Northwest & Ethical Investments L.P. Grows Stake in Clearway Energy, Inc. $CWEN

Northwest & Ethical Investments L.P. raised its stake in Clearway Energy, Inc. (NYSE:CWEN) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 267,053 shares of the company’s stock after purchasing an additional 10,475 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Clearway Energy were worth $8,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gotham Asset Management LLC increased its stake in Clearway Energy by 79.1% in the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock valued at $24,665,000 after buying an additional 359,876 shares during the period. Northside Capital Management LLC acquired a new stake in Clearway Energy during the 2nd quarter valued at $8,847,000. Nordea Investment Management AB increased its position in Clearway Energy by 325.3% during the 2nd quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock worth $7,747,000 after purchasing an additional 187,861 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Clearway Energy during the second quarter worth about $2,693,000. Finally, Walleye Capital LLC raised its holdings in Clearway Energy by 225.6% in the 1st quarter. Walleye Capital LLC now owns 31,318 shares of the company’s stock valued at $948,000 after acquiring an additional 56,245 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank Of Canada began coverage on Clearway Energy in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th. Roth Capital increased their price target on Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, CIBC lifted their target price on Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.86.

Clearway Energy Trading Up 0.1%

Shares of CWEN stock opened at $36.21 on Thursday. The stock has a 50-day simple moving average of $32.30 and a 200 day simple moving average of $31.26. The stock has a market capitalization of $7.38 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.85 and a beta of 0.93. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $36.89.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.Clearway Energy’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.4528 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio (DPR) is presently 76.07%.

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.