9,067 Shares in Clearway Energy, Inc. (NYSE:CWEN) Purchased by Wealthquest Corp

Wealthquest Corp acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 9,067 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CWEN. Mascoma Wealth Management LLC acquired a new stake in Clearway Energy in the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC bought a new position in Clearway Energy during the 4th quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in Clearway Energy during the 4th quarter worth approximately $51,000. NBT Bank N A NY bought a new position in Clearway Energy during the 1st quarter worth approximately $71,000. Finally, Quarry LP boosted its holdings in shares of Clearway Energy by 48.6% in the fourth quarter. Quarry LP now owns 5,454 shares of the company’s stock valued at $142,000 after buying an additional 1,783 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price target for the company. Roth Mkm restated a “buy” rating and set a $34.00 target price (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Finally, Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Clearway Energy Price Performance

NYSE:CWEN opened at $32.06 on Wednesday. Clearway Energy, Inc. has a one year low of $24.02 and a one year high of $32.64. The company has a market cap of $6.48 billion, a P/E ratio of 40.07, a P/E/G ratio of 0.75 and a beta of 0.87. The firm’s fifty day moving average price is $30.00 and its two-hundred day moving average price is $28.20. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.42.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. The company had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $305.74 million. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. Clearway Energy’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Equities analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.4384 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s payout ratio is presently 218.75%.

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.