Clearway Energy, Inc. (NYSE:CWEN) Position Raised by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. grew its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 12.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 43,445 shares of the company’s stock after purchasing an additional 4,655 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Clearway Energy were worth $1,073,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc acquired a new position in Clearway Energy during the 4th quarter valued at about $274,000. First Trust Advisors LP boosted its position in shares of Clearway Energy by 4.3% during the fourth quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after buying an additional 38,032 shares during the period. Pinebridge Investments L.P. grew its holdings in Clearway Energy by 31.8% in the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock worth $9,202,000 after buying an additional 80,962 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Clearway Energy in the 4th quarter worth approximately $9,807,000. Finally, Nebula Research & Development LLC acquired a new stake in Clearway Energy in the 4th quarter valued at approximately $840,000. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

NYSE CWEN opened at $29.22 on Friday. The stock has a market capitalization of $5.91 billion, a P/E ratio of 44.27, a P/E/G ratio of 2.52 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The business’s fifty day moving average is $28.62 and its two-hundred day moving average is $26.19. Clearway Energy, Inc. has a 1 year low of $18.59 and a 1 year high of $30.92.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The company had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, research analysts forecast that Clearway Energy, Inc. will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.417 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio (DPR) is 251.52%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Roth Mkm reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, BNP Paribas started coverage on Clearway Energy in a report on Tuesday. They set an “outperform” rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

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.