Edgestream Partners L.P. Acquires 32,195 Shares of Clearway Energy, Inc. $CWEN

Edgestream Partners L.P. boosted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 65.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,240 shares of the company’s stock after purchasing an additional 32,195 shares during the period. Edgestream Partners L.P.’s holdings in Clearway Energy were worth $2,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CWEN. Monetary Management Group Inc. increased its stake in shares of Clearway Energy by 4.3% in the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company’s stock valued at $436,000 after buying an additional 600 shares in the last quarter. Abundance Wealth Counselors grew its holdings in Clearway Energy by 1.6% during the 2nd quarter. Abundance Wealth Counselors now owns 39,158 shares of the company’s stock worth $1,253,000 after acquiring an additional 624 shares during the last quarter. Spirit of America Management Corp NY increased its position in Clearway Energy by 5.2% in the 2nd quarter. Spirit of America Management Corp NY now owns 15,300 shares of the company’s stock valued at $490,000 after acquiring an additional 750 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Clearway Energy by 4.4% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,620 shares of the company’s stock valued at $628,000 after acquiring an additional 820 shares in the last quarter. Finally, WBI Investments LLC raised its stake in shares of Clearway Energy by 5.0% in the first quarter. WBI Investments LLC now owns 17,544 shares of the company’s stock worth $531,000 after acquiring an additional 834 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Down 1.0%

NYSE:CWEN opened at $34.13 on Friday. 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 12-month low of $24.40 and a 12-month high of $36.89. The stock’s fifty day simple moving average is $33.13 and its 200-day simple moving average is $31.50. The firm has a market capitalization of $6.95 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.50 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The firm’s revenue was down 11.7% on a year-over-year basis. Equities research analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.4528 per share. This represents a $1.81 annualized dividend and a yield of 5.3%. 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 payout ratio is 77.35%.

Analyst Ratings Changes

Several research firms have recently commented on CWEN. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. 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 price objective on the stock. Roth Capital boosted their target price on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Evercore ISI assumed coverage on Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.86.

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.