19,100 Clearway Energy, Inc. $CWEN Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Clearway Energy, Inc. (NYSE:CWEN) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,200 shares of the company’s stock after purchasing an additional 19,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.05% of Clearway Energy worth $3,284,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in Clearway Energy by 276.7% during the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Tectonic Advisors LLC boosted its stake in Clearway Energy by 12.8% in the third quarter. Tectonic Advisors LLC now owns 567,137 shares of the company’s stock valued at $16,600,000 after buying an additional 64,439 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after purchasing an additional 58,138 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Clearway Energy in the first quarter valued at approximately $1,427,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Clearway Energy during the 2nd quarter valued at $1,229,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Up 5.9%

Shares of CWEN stock opened at $33.91 on Tuesday. Clearway Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $41.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The stock has a 50 day simple moving average of $30.94 and a two-hundred day simple moving average of $35.55. The company has a market cap of $6.96 billion, a P/E ratio of 44.62 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Research analysts forecast that Clearway Energy, Inc. will post -0.25 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.4750 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 1st. This is a boost from Clearway Energy’s previous quarterly dividend of $0.4676. Clearway Energy’s dividend payout ratio is presently 250.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CWEN. Morgan Stanley reduced their target price on shares of Clearway Energy from $58.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Jefferies Financial Group reissued a “buy” rating and set a $38.00 target price on shares of Clearway Energy in a research note on Friday, September 4th. UBS Group cut their price target on shares of Clearway Energy from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Finally, Weiss Ratings cut shares of Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.00.

Clearway Energy 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.