King Luther Capital Management Corp Takes Position in Clearway Energy, Inc. (NYSE:CWEN)

King Luther Capital Management Corp acquired a new position in Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 18,500 shares of the company’s stock, valued at approximately $568,000.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the third quarter worth $50,000. Abich Financial Wealth Management LLC boosted its stake in shares of Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the last quarter. Whittier Trust Co. increased its position in Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares in the last quarter. Quarry LP raised its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings in Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after purchasing an additional 1,700 shares in the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CWEN. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. BNP Paribas began coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Performance

Clearway Energy stock opened at $28.35 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The stock’s 50-day moving average is $28.21 and its 200-day moving average is $27.38.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts anticipate that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.98%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is 160.58%.

About Clearway Energy

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.