Edgestream Partners L.P. Takes Position in Clearway Energy, Inc. $CWEN

Edgestream Partners L.P. acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,316 shares of the company’s stock, valued at approximately $1,427,000.

Other large investors also recently bought and sold shares of the company. Lazard Freres Gestion S.A.S. raised its position in Clearway Energy by 1.4% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock worth $657,000 after buying an additional 270 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Clearway Energy by 2.0% during the 4th quarter. Ballentine Partners LLC now owns 17,096 shares of the company’s stock valued at $569,000 after acquiring an additional 333 shares during the last quarter. Courier Capital LLC boosted its holdings in shares of Clearway Energy by 1.2% during the 4th quarter. Courier Capital LLC now owns 33,193 shares of the company’s stock valued at $1,104,000 after acquiring an additional 385 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Clearway Energy by 1.4% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company’s stock valued at $948,000 after acquiring an additional 400 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 412 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CWEN shares. Truist Financial started coverage on shares of Clearway Energy in a report on Monday, July 13th. They set a “buy” rating and a $43.00 price objective for the company. Wall Street Zen cut shares of Clearway Energy from a “sell” rating to a “strong sell” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a research report on Thursday, April 9th. Zacks Research lowered shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Finally, UBS Group increased their price target on Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.00.

Clearway Energy Trading Up 1.0%

Shares of NYSE:CWEN opened at $32.06 on Tuesday. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 801.70 and a beta of 0.89. 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’s 50-day simple moving average is $35.75 and its two-hundred day simple moving average is $37.50. Clearway Energy, Inc. has a 52-week low of $27.67 and a 52-week high of $41.74.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The firm had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. Analysts expect that Clearway Energy, Inc. will post -1.03 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.4676 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.8%. Clearway Energy’s payout ratio is 4,675.00%.

About Clearway Energy

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.