PFG Investments LLC Purchases 4,136 Shares of Clearway Energy, Inc. $CWEN

PFG Investments LLC lifted its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,471 shares of the company’s stock after purchasing an additional 4,136 shares during the period. PFG Investments LLC’s holdings in Clearway Energy were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CWEN. Alpine Bank Wealth Management bought a new position in Clearway Energy during the 1st quarter worth $27,000. Tsfg LLC acquired a new position in shares of Clearway Energy in the first quarter valued at about $61,000. NBT Bank N A NY bought a new position in Clearway Energy during the first quarter worth about $71,000. SBI Securities Co. Ltd. raised its stake in Clearway Energy by 48.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock worth $89,000 after purchasing an additional 966 shares in the last quarter. Finally, Wealthspire Advisors LLC acquired a new stake in Clearway Energy in the 1st quarter worth about $206,000. 84.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CWEN has been the topic of a number of analyst reports. CIBC lowered shares of Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Saturday, July 19th. Jefferies Financial Group increased their price target on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Cibc World Mkts downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Clearway Energy Stock Up 0.5%

Shares of CWEN opened at $30.00 on Friday. The firm has a 50 day simple moving average of $29.60 and a two-hundred day simple moving average of $30.07. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.34. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $33.22. The company has a market cap of $6.06 billion, a P/E ratio of 46.15, a P/E/G ratio of 1.32 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The business had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. During the same period in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.4456 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Tuesday, September 2nd. Clearway Energy’s dividend payout ratio (DPR) is presently 273.85%.

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.