Frank Rimerman Advisors LLC Acquires New Holdings in Clearway Energy, Inc. $CWEN

Frank Rimerman Advisors LLC purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,726 shares of the company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares during the last quarter. National Bank of Canada FI lifted 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 worth $28,000 after purchasing an additional 652 shares during the period. Mather Group LLC. bought a new stake in shares of Clearway Energy in the third quarter worth $29,000. Headlands Technologies LLC bought a new position in Clearway Energy during the 2nd quarter worth $43,000. Finally, Johnson Financial Group Inc. acquired a new position in Clearway Energy during the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Up 1.1%

CWEN stock opened at $40.36 on Friday. The stock’s 50 day simple moving average is $38.50 and its 200 day simple moving average is $34.78. The company has a market cap of $8.28 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13. Clearway Energy, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $41.51.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $334.42 million. During the same period last year, the business posted ($0.41) EPS. On average, research analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.4602 dividend. This represents a $1.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, March 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is 129.58%.

Wall Street Analyst Weigh In

CWEN has been the subject of a number of analyst reports. UBS Group set a $45.00 price objective on Clearway Energy in a research report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Roth Mkm reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. Wall Street Zen cut Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada raised their price objective on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Clearway Energy Company Profile

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.