1,308,635 shares of Clearway Energy, Inc. (NYSE:CWEN) acquired by 1832 Asset Management LP

1832 Asset Management LP acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,308,635 shares of the company’s stock, valued at approximately $32,310,000. 1832 Asset Management LP owned approximately 0.65% of Clearway Energy as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CWEN. Scarborough Advisors LLC purchased a new position in shares of Clearway Energy in the fourth quarter valued at about $25,000. Mather Group LLC. acquired a new position in Clearway Energy in the first quarter worth $37,000. Abich Financial Wealth Management LLC boosted its holdings in Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares in the last quarter. Whittier Trust Co. boosted its position in Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Clearway Energy in the first quarter valued at $228,000. Institutional investors own 38.03% of the company’s shares.

Clearway Energy Stock up 1.1%

Shares of NYSE:CWEN opened at $29.93 on Tuesday. The company has a 50 day moving average price of $27.97 and a two hundred day moving average price of $25.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37, and a current ratio of 1.46. The company has a market cap of $6.05 billion, a PE ratio of 45.34, a PEG ratio of 2.24 and a beta of 0.86. Clearway Energy, Inc. has a 52 week low of $18.59 and a 52 week high of $29.99.

Clearway Energy (NYSE:CWEN – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. Clearway Energy’s quarterly revenue was down 9.9% on a year-over-year basis. In the same quarter last year, the company earned $0.33 EPS. Analysts estimate that Clearway Energy, Inc. will record 0.9 earnings per share for the current year.

Clearway Energy increases dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.417 per share. The ex-dividend date was Tuesday, September 3rd. This represents a dividend of $1.67 on an annualized basis and a dividend yield of 5.57%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is currently 251.52%.

Analysts set new price targets

Several equities analysts recently issued reports on CWEN shares. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.71, according to MarketBeat.com.

Check out our latest analysis of Clearway Energy

Clearway Energy Profile

(Free Report)

Clearway Energy, Inc operates in the field of renewable energy in the United States. The company operates through conventional and renewable segments. It has approximately 6,000 net MW of wind, solar and power generation projects installed; and approximately 2,500 net MW of natural gas-fired generation facilities.

Further reading

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