Insight Advisors LLC PA boosted its stake in Clearway Energy, Inc. (NYSE:CWEN) by 54.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,504 shares of the company’s stock after acquiring an additional 7,202 shares during the period. Insight Advisors LLC PA’s holdings in Clearway Energy were worth $595,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. ClearBridge Investments Ltd raised its position in Clearway Energy by 5.6% in the first quarter. ClearBridge Investments Ltd now owns 4,704,664 shares of the company’s stock worth $132,389,000 after acquiring an additional 249,459 shares during the period. Price T Rowe Associates Inc. MD raised its position in Clearway Energy by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,215,892 shares of the company’s stock worth $34,215,000 after acquiring an additional 76,885 shares during the period. Pinebridge Investments L.P. raised its position in Clearway Energy by 36.1% in the first quarter. Pinebridge Investments L.P. now owns 441,016 shares of the company’s stock worth $12,410,000 after acquiring an additional 117,015 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Clearway Energy by 4.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,445 shares of the company’s stock worth $10,846,000 after acquiring an additional 16,039 shares during the period. Finally, Principal Street Partners LLC raised its position in Clearway Energy by 142.6% in the first quarter. Principal Street Partners LLC now owns 374,795 shares of the company’s stock worth $10,547,000 after acquiring an additional 220,308 shares during the period. 34.60% of the stock is currently owned by institutional investors and hedge funds.
CWEN has been the topic of several research reports. UBS Group initiated coverage on shares of Clearway Energy in a research report on Thursday, August 26th. They issued a “buy” rating and a $36.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Clearway Energy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $32.50.
Clearway Energy (NYSE:CWEN) last announced its earnings results on Tuesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.12). Clearway Energy had a net margin of 3.66% and a return on equity of 4.39%. The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $373.39 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts anticipate that Clearway Energy, Inc. will post 1.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 4.21%. Clearway Energy’s payout ratio is presently 223.33%.
In other Clearway Energy news, Director E Stanley Oneal acquired 2,300 shares of the stock in a transaction dated Wednesday, August 11th. The stock was purchased at an average cost of $30.75 per share, for a total transaction of $70,725.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.43% of the company’s stock.
Clearway Energy Profile
Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.
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