Clearway Energy, Inc. (NYSE:CWEN) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 46.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,102 shares of the company’s stock after acquiring an additional 5,764 shares during the period. Cerity Partners LLC’s holdings in Clearway Energy were worth $555,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fulton Bank N.A. boosted its stake in Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after purchasing an additional 449 shares during the period. Whittier Trust Co. boosted 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 worth $50,000 after buying an additional 512 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Clearway Energy by 5.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock valued at $302,000 after buying an additional 654 shares in the last quarter. Congress Asset Management Co. raised its position in Clearway Energy by 0.4% during the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after buying an additional 699 shares during the period. Finally, Quarry LP raised its position in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Trading Down 1.3 %

Shares of NYSE:CWEN opened at $28.24 on Friday. The company’s 50-day moving average price is $28.05 and its two-hundred day moving average price is $27.55. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock has a market capitalization of $5.71 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, equities analysts forecast that Clearway Energy, Inc. will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.01%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several research reports. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. CIBC lifted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, BNP Paribas assumed coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.13.

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.