AE Wealth Management LLC Has $1.75 Million Stake in Clearway Energy, Inc. (NYSE:CWEN)

AE Wealth Management LLC increased its stake in Clearway Energy, Inc. (NYSE:CWEN) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,025 shares of the company’s stock after purchasing an additional 4,833 shares during the quarter. AE Wealth Management LLC’s holdings in Clearway Energy were worth $1,754,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CWEN. Scarborough Advisors LLC acquired a new stake in shares of Clearway Energy in the fourth quarter worth $25,000. Mather Group LLC. acquired a new position in Clearway Energy during the 1st quarter worth $37,000. Abich Financial Wealth Management LLC boosted its holdings in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the period. Whittier Trust Co. grew its position in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Clearway Energy in the first quarter worth about $228,000. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN opened at $29.93 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The company has a 50-day moving average of $27.97 and a 200-day moving average of $25.80. Clearway Energy, Inc. has a 52 week low of $18.59 and a 52 week high of $29.99. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 45.34, a PEG ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Clearway Energy, Inc. will post 0.9 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.417 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 5.57%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is currently 251.52%.

Analyst Ratings Changes

A number of research firms have issued reports on CWEN. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday. They set a “buy” rating and a $35.00 target price for the company. Finally, StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.71.

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.