Investor s Fiduciary Advisor Network LLC Buys Shares of 20,209 Clearway Energy, Inc. $CWEN

Investor s Fiduciary Advisor Network LLC bought a new stake in Clearway Energy, Inc. (NYSE:CWEN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,209 shares of the company’s stock, valued at approximately $570,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mather Group LLC. acquired a new position in Clearway Energy during the third quarter valued at $29,000. Hilltop National Bank purchased a new position in Clearway Energy during the 2nd quarter valued at about $35,000. Headlands Technologies LLC acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $43,000. Jump Financial LLC purchased a new stake in shares of Clearway Energy in the second quarter worth approximately $215,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Clearway Energy by 140.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,818 shares of the company’s stock worth $218,000 after purchasing an additional 3,982 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. CIBC upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and upped their price objective for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Roth Mkm increased their price objective on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 24th. UBS Group reissued a “buy” rating and set a $39.00 price objective on shares of Clearway Energy in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada began coverage on Clearway Energy in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Clearway Energy Stock Performance

Shares of CWEN opened at $36.96 on Thursday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. The company’s fifty day moving average is $34.19 and its 200-day moving average is $32.18. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. Clearway Energy, Inc. has a 12 month low of $25.08 and a 12 month high of $37.29.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. During the same period in the prior year, the company posted $0.31 earnings per share. Clearway Energy’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.4528 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a dividend yield of 4.9%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is currently 77.35%.

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.