Creative Planning Acquires 3,134 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Creative Planning increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,450 shares of the company’s stock after buying an additional 3,134 shares during the quarter. Creative Planning’s holdings in Clearway Energy were worth $505,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Apollo Management Holdings L.P. raised its position in Clearway Energy by 38.4% in the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after purchasing an additional 456,197 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Clearway Energy in the second quarter valued at about $32,310,000. Point72 Asset Management L.P. raised its position in Clearway Energy by 60.9% in the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after purchasing an additional 384,837 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after buying an additional 254,486 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in shares of Clearway Energy in the first quarter valued at about $7,346,000. 38.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CWEN has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Morgan Stanley upgraded 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. Finally, BNP Paribas initiated coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $28.79 on Wednesday. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.44 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The stock’s 50-day moving average is $28.38 and its 200 day moving average is $27.03.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s quarterly revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is presently 162.50%.

About Clearway Energy

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.