Corient Private Wealth LLC Purchases 24,201 Shares of Clearway Energy, Inc. $CWEN

Corient Private Wealth LLC lifted its position in Clearway Energy, Inc. (NYSE:CWEN) by 156.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,631 shares of the company’s stock after purchasing an additional 24,201 shares during the quarter. Corient Private Wealth LLC’s holdings in Clearway Energy were worth $1,318,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have commented on CWEN shares. Weiss Ratings cut 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 raised Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. UBS Group increased their target price on Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research note on Thursday, April 9th. Finally, Morgan Stanley increased their price objective on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $33.55 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $37.50. Clearway Energy, Inc. has a fifty-two week low of $27.67 and a fifty-two week high of $41.74. The firm has a market cap of $6.89 billion, a P/E ratio of 838.96 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The firm had revenue of $354.00 million during the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. Sell-side analysts predict that Clearway Energy, Inc. will post -0.87 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.4676 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 dividend on an annualized basis and a yield of 5.6%. Clearway Energy’s dividend payout ratio is 4,675.00%.

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.