Clearway Energy, Inc. $CWEN Stock Bought by Courier Capital LLC

Courier Capital LLC boosted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 97.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,886 shares of the company’s stock after purchasing an additional 32,029 shares during the period. Courier Capital LLC’s holdings in Clearway Energy were worth $1,899,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CWEN. Farther Finance Advisors LLC increased its position in Clearway Energy by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 8,910 shares of the company’s stock worth $261,000 after buying an additional 412 shares in the last quarter. CX Institutional purchased a new position in shares of Clearway Energy during the 3rd quarter valued at about $105,000. Sequoia Financial Advisors LLC lifted its position in shares of Clearway Energy by 42.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,644 shares of the company’s stock valued at $295,000 after buying an additional 2,571 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Clearway Energy during the 2nd quarter valued at approximately $83,000. Finally, Maven Securities LTD bought a new position in shares of Clearway Energy during the 2nd quarter valued at approximately $667,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN traded up $0.01 on Tuesday, reaching $30.45. 949,242 shares of the company’s stock traded hands, compared to its average volume of 1,147,559. The stock has a 50-day simple moving average of $31.48 and a 200-day simple moving average of $35.22. Clearway Energy, Inc. has a 12 month low of $28.57 and a 12 month high of $41.74. The firm has a market cap of $6.25 billion, a PE ratio of 40.07 and a beta of 0.88. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million for the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. Equities research analysts forecast that Clearway Energy, Inc. will post -0.37 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.4750 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.4676. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.90 annualized dividend and a yield of 6.2%. Clearway Energy’s dividend payout ratio is 250.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on CWEN shares. Evercore restated a “positive” rating and set a $40.00 target price on shares of Clearway Energy in a research note on Monday, August 17th. Seaport Research Partners lowered their price target on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Truist Financial dropped their price target on shares of Clearway Energy from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Jefferies Financial Group reissued a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research note on Friday, September 4th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price objective on shares of Clearway Energy in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.44.

About Clearway Energy

Clearway Energy, Inc (NYSE:CWEN) is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company’s operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway’s renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.