Recurrent Investment Advisors LLC Acquires New Shares in Clearway Energy, Inc. (NYSE:CWEN)

Recurrent Investment Advisors LLC acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,600 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds also recently modified their holdings of the company. PDT Partners LLC raised its position in Clearway Energy by 30.7% during the 3rd quarter. PDT Partners LLC now owns 59,791 shares of the company’s stock worth $1,834,000 after purchasing an additional 14,058 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in Clearway Energy during the 3rd quarter worth $106,000. Rockefeller Capital Management L.P. raised its position in Clearway Energy by 7.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,272 shares of the company’s stock worth $1,296,000 after purchasing an additional 2,837 shares during the last quarter. Hancock Whitney Corp bought a new position in Clearway Energy during the 3rd quarter worth $1,486,000. Finally, Cerity Partners LLC raised its position in Clearway Energy by 46.7% during the 3rd quarter. Cerity Partners LLC now owns 18,102 shares of the company’s stock worth $555,000 after purchasing an additional 5,764 shares during the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CWEN. Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. BNP Paribas began coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Performance

Shares of CWEN opened at $28.35 on Thursday. 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 stock has a 50-day moving average of $28.12 and a 200-day moving average of $27.53. The company has a market cap of $5.73 billion, a PE ratio of 27.26, a P/E/G ratio of 1.28 and a beta of 0.86. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities research analysts predict that Clearway Energy, Inc. will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company 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 is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 5.98%. Clearway Energy’s dividend payout ratio (DPR) is currently 163.46%.

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.