Clearway Energy, Inc. $CWEN Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 156.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,631 shares of the company’s stock after purchasing an additional 24,201 shares during the period. Corient Private Wealth LLC’s holdings in Clearway Energy were worth $1,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CWEN. Caitong International Asset Management Co. Ltd lifted its position in shares of Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after acquiring an additional 705 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares in the last quarter. Huntington National Bank increased its holdings in shares of Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Clearway Energy during the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Down 1.8%

CWEN stock opened at $33.55 on Thursday. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 838.96 and a beta of 0.89. The company has a 50-day moving average of $38.27 and a two-hundred day moving average of $37.50. Clearway Energy, Inc. has a 52-week low of $27.67 and a 52-week high of $41.74. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The business had revenue of $354.00 million during the quarter, compared to the consensus estimate of $340.75 million. As a group, equities research analysts anticipate that Clearway Energy, Inc. will post -0.87 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.4676 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 5.6%. Clearway Energy’s payout ratio is currently 4,675.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CWEN shares. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. UBS Group raised their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Morgan Stanley boosted their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.