Icon Wealth Advisors LLC Acquires Shares of 3,454 Clearway Energy, Inc. (NYSE:CWEN)

Icon Wealth Advisors LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,454 shares of the company’s stock, valued at approximately $106,000.

A number of other institutional investors have also recently modified their holdings of CWEN. 1832 Asset Management L.P. purchased a new position in Clearway Energy in the 2nd quarter worth approximately $32,310,000. Point72 Asset Management L.P. increased its holdings in shares of Clearway Energy by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after purchasing an additional 384,837 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after purchasing an additional 254,486 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Clearway Energy by 130.7% during the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock valued at $6,722,000 after purchasing an additional 154,239 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Clearway Energy by 726.3% during the second quarter. American Century Companies Inc. now owns 171,321 shares of the company’s stock valued at $4,230,000 after purchasing an additional 150,588 shares in the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Trading Down 0.0 %

Shares of CWEN stock opened at $29.49 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.41 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The firm has a fifty day moving average price of $28.21 and a 200-day moving average price of $27.50.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the prior year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.78 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 5.75%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 160.58%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CWEN. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company. CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Profile

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.