Kayne Anderson Capital Advisors LP lifted its holdings in Clearway Energy Inc (NYSE:CWEN) by 502.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,600 shares of the company’s stock after purchasing an additional 144,800 shares during the quarter. Kayne Anderson Capital Advisors LP owned about 0.09% of Clearway Energy worth $3,166,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Clearway Energy by 1.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 792,361 shares of the company’s stock worth $13,358,000 after purchasing an additional 8,509 shares in the last quarter. ETRADE Capital Management LLC purchased a new position in Clearway Energy in the 2nd quarter worth $203,000. Campbell & CO Investment Adviser LLC purchased a new position in Clearway Energy in the 2nd quarter worth $256,000. Natixis purchased a new position in Clearway Energy in the 2nd quarter worth $310,000. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Clearway Energy by 41.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 75,930 shares of the company’s stock worth $6,261,000 after acquiring an additional 22,270 shares during the last quarter. 32.66% of the stock is owned by hedge funds and other institutional investors.
CWEN has been the subject of a number of research analyst reports. Bank of America upgraded Clearway Energy from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Evercore ISI restated a “hold” rating and issued a $16.00 target price on shares of Clearway Energy in a research note on Sunday, August 11th. Wolfe Research lowered Clearway Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Royal Bank of Canada raised their target price on Clearway Energy from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research upgraded Clearway Energy from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.75.
CWEN stock traded up $0.05 during midday trading on Friday, reaching $19.50. The stock had a trading volume of 493,700 shares, compared to its average volume of 776,831. The stock has a market cap of $3.76 billion, a PE ratio of 42.39, a P/E/G ratio of 2.87 and a beta of 1.22. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.21 and a current ratio of 0.23. The firm has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $17.33. Clearway Energy Inc has a 52-week low of $12.12 and a 52-week high of $20.43.
Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.35). The company had revenue of $296.00 million for the quarter, compared to analysts’ expectations of $312.07 million. Clearway Energy had a negative net margin of 8.90% and a negative return on equity of 4.14%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts predict that Clearway Energy Inc will post 0.66 EPS for the current fiscal year.
Clearway Energy Company Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.
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