Wright Investors Service Inc. Makes New $858,000 Investment in Clearway Energy, Inc. (NYSE:CWEN)

Wright Investors Service Inc. bought a new position in Clearway Energy, Inc. (NYSE:CWEN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 31,277 shares of the company’s stock, valued at approximately $858,000.

Several other institutional investors and hedge funds have also bought and sold shares of CWEN. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Clearway Energy by 1.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 54,140 shares of the company’s stock valued at $1,977,000 after purchasing an additional 606 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Clearway Energy in the 1st quarter worth $256,000. Sei Investments Co. grew its holdings in Clearway Energy by 37.7% in the 1st quarter. Sei Investments Co. now owns 130,165 shares of the company’s stock worth $4,752,000 after acquiring an additional 35,662 shares during the last quarter. Ergoteles LLC bought a new stake in Clearway Energy in the 1st quarter worth $1,634,000. Finally, Bridgewater Associates LP grew its holdings in Clearway Energy by 145.6% in the 1st quarter. Bridgewater Associates LP now owns 81,066 shares of the company’s stock worth $2,960,000 after acquiring an additional 48,052 shares during the last quarter. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Up 1.1 %

NYSE:CWEN opened at $22.50 on Friday. The firm has a market cap of $4.55 billion, a P/E ratio of 33.09 and a beta of 0.88. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. Clearway Energy, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $31.85. The firm has a 50-day simple moving average of $22.52 and a two-hundred day simple moving average of $23.46.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The business had revenue of $249.00 million during the quarter, compared to analyst estimates of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. Clearway Energy’s revenue was down 18.4% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Analysts predict that Clearway Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.403 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 7.16%. Clearway Energy’s payout ratio is currently 236.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Royal Bank of Canada dropped their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. Morgan Stanley raised their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.33.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies purchased 196,964 shares of Clearway Energy stock in a transaction dated Thursday, March 28th. The stock was purchased at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

About Clearway Energy

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.