Silvia Mccoll Wealth Management LLC Buys New Shares in Clearway Energy, Inc. (NYSE:CWEN)

Silvia Mccoll Wealth Management LLC bought a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,955 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new position in Clearway Energy in the 4th quarter worth about $25,000. Mather Group LLC. purchased a new position in shares of Clearway Energy in the first quarter worth approximately $37,000. Abich Financial Wealth Management LLC raised its holdings 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 period. Whittier Trust Co. raised its holdings in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the period. Finally, Quarry LP lifted its position in shares of 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 acquiring an additional 843 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Stock Down 1.9 %

Shares of Clearway Energy stock opened at $29.22 on Friday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 44.27, a P/E/G ratio of 2.52 and a beta of 0.86. The stock has a 50-day simple moving average of $28.62 and a 200-day simple moving average of $26.19. Clearway Energy, Inc. has a 52-week low of $18.59 and a 52-week high of $30.92. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37.

Clearway Energy (NYSE:CWEN) last posted 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 net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. During the same quarter last year, the firm earned $0.33 earnings per share. Clearway Energy’s revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

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