PFG Investments LLC Increases Position in Clearway Energy, Inc. (NYSE:CWEN)

PFG Investments LLC lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 40.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,621 shares of the company’s stock after acquiring an additional 21,273 shares during the quarter. PFG Investments LLC’s holdings in Clearway Energy were worth $2,019,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CWEN. Raymond James Financial Services Advisors Inc. increased its holdings in Clearway Energy by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 54,140 shares of the company’s stock valued at $1,977,000 after buying an additional 606 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Clearway Energy in the first quarter valued at about $256,000. Sei Investments Co. increased its holdings in Clearway Energy by 37.7% in the first quarter. Sei Investments Co. now owns 130,165 shares of the company’s stock valued at $4,752,000 after buying an additional 35,662 shares during the last quarter. Ergoteles LLC bought a new stake in Clearway Energy in the first quarter valued at about $1,634,000. Finally, Bridgewater Associates LP increased its holdings in Clearway Energy by 145.6% in the first quarter. Bridgewater Associates LP now owns 81,066 shares of the company’s stock valued at $2,960,000 after buying an additional 48,052 shares during the last quarter. 33.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CWEN. Royal Bank of Canada lowered their price objective on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Oppenheimer lifted their target price on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley lifted their target price on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy has a consensus rating of “Hold” and an average price target of $28.33.

Clearway Energy Stock Performance

Shares of NYSE CWEN traded up $0.09 during midday trading on Tuesday, hitting $21.54. 845,974 shares of the company’s stock were exchanged, compared to its average volume of 908,203. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.72 and a quick ratio of 1.66. The stock’s 50 day moving average price is $23.01 and its 200-day moving average price is $23.57. The firm has a market cap of $4.35 billion, a P/E ratio of 31.67 and a beta of 0.87. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $32.24.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.15. The business had revenue of $249.00 million during the quarter, compared to the consensus estimate of $282.45 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The business’s revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Equities research analysts anticipate that Clearway Energy, Inc. will post 0.93 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.403 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 annualized dividend and a dividend yield of 7.49%. Clearway Energy’s payout ratio is currently 236.76%.

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.