64,439 Clearway Energy, Inc. $CWEN Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,137 shares of the company’s stock after acquiring an additional 64,439 shares during the quarter. Tectonic Advisors LLC’s holdings in Clearway Energy were worth $16,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CWEN. Fortitude Family Office LLC boosted its position in Clearway Energy by 590.5% during the 3rd quarter. Fortitude Family Office LLC now owns 1,160 shares of the company’s stock worth $34,000 after purchasing an additional 992 shares during the period. Allied Private Wealth LLC purchased a new position in Clearway Energy in the second quarter valued at about $35,000. Eastern Bank purchased a new position in Clearway Energy in the second quarter valued at about $57,000. Community Financial Services Group LLC raised its position in Clearway Energy by 40.0% in the third quarter. Community Financial Services Group LLC now owns 2,100 shares of the company’s stock valued at $61,000 after purchasing an additional 600 shares during the period. Finally, First Bancorp Inc ME acquired a new position in shares of Clearway Energy during the second quarter worth about $65,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Down 1.0%

Shares of CWEN stock traded down $0.30 on Friday, hitting $31.13. The stock had a trading volume of 814,651 shares, compared to its average volume of 1,142,107. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 40.96 and a beta of 0.88. The stock’s 50 day moving average is $30.99 and its 200-day moving average is $34.68. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy, Inc. has a 52-week low of $28.57 and a 52-week high of $41.74.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The business had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. As a group, research analysts expect that Clearway Energy, Inc. will post -0.25 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Tuesday, September 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.4676. Clearway Energy’s dividend payout ratio is currently 250.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CWEN shares. Seaport Research Partners decreased their target price on Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Truist Financial lowered their target price on Clearway Energy from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Finally, Evercore reissued a “positive” rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $42.00.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.