Whittier Trust Co. Buys 512 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Whittier Trust Co. lifted its stake in Clearway Energy, Inc. (NYSE:CWEN) by 33.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,027 shares of the company’s stock after purchasing an additional 512 shares during the quarter. Whittier Trust Co.’s holdings in Clearway Energy were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ING Groep NV bought a new stake in Clearway Energy in the 4th quarter valued at $850,000. Tidal Investments LLC increased its holdings in Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after acquiring an additional 22,059 shares during the last quarter. Sei Investments Co. bought a new stake in Clearway Energy in the 1st quarter valued at $1,010,000. Qsemble Capital Management LP bought a new stake in Clearway Energy in the 1st quarter valued at $516,000. Finally, Friedenthal Financial bought a new stake in shares of Clearway Energy in the 2nd quarter worth about $712,000. Institutional investors own 38.03% of the company’s stock.

Analyst Upgrades and Downgrades

CWEN has been the topic of a number of research reports. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Evercore ISI boosted their target price on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

Clearway Energy Stock Performance

Shares of NYSE:CWEN opened at $28.53 on Friday. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 43.23 and a beta of 0.85. Clearway Energy, Inc. has a 12 month low of $18.59 and a 12 month high of $29.48. The firm’s 50-day moving average is $26.74 and its 200 day moving average is $25.06. The company has a current ratio of 1.46, a quick ratio of 1.65 and a debt-to-equity ratio of 1.19.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). The firm had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. Research analysts predict that Clearway Energy, Inc. will post 0.74 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be given a $0.417 dividend. This represents a $1.67 annualized dividend and a yield of 5.85%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, September 3rd. Clearway Energy’s payout ratio is 251.52%.

Clearway Energy Company 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.