Mercer Global Advisors Inc. ADV Boosts Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Mercer Global Advisors Inc. ADV raised its position in Clearway Energy, Inc. (NYSE:CWEN) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,240 shares of the company’s stock after purchasing an additional 654 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Clearway Energy were worth $302,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in Clearway Energy during the fourth quarter valued at $25,000. Mather Group LLC. bought a new stake in shares of Clearway Energy during the 1st quarter valued at about $37,000. Abich Financial Wealth Management LLC grew 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 worth $43,000 after purchasing an additional 625 shares in the last quarter. Whittier Trust Co. increased its position in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Clearway Energy in the first quarter valued at approximately $228,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CWEN shares. 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 raised Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.71.

Clearway Energy Trading Up 1.6 %

Shares of CWEN stock opened at $30.50 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The business has a 50-day moving average of $28.35 and a 200 day moving average of $26.03. The stock has a market capitalization of $6.17 billion, a PE ratio of 46.21, a P/E/G ratio of 2.52 and a beta of 0.86. Clearway Energy, Inc. has a 1-year low of $18.59 and a 1-year high of $30.64.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 5.47%. 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 251.52%.

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.