Pacer Advisors Inc. Acquires 140,006 Shares of Clearway Energy, Inc. $CWEN

Pacer Advisors Inc. raised its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 837,006 shares of the company’s stock after acquiring an additional 140,006 shares during the period. Pacer Advisors Inc. owned approximately 0.41% of Clearway Energy worth $27,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CWEN. Clearbridge Investments LLC grew its holdings in shares of Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock worth $154,890,000 after purchasing an additional 981,488 shares in the last quarter. Wellington Management Group LLP bought a new stake in Clearway Energy during the fourth quarter valued at approximately $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Clearway Energy by 1,116.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock worth $13,757,000 after buying an additional 394,579 shares in the last quarter. Capula Management Ltd purchased a new position in Clearway Energy in the 3rd quarter worth approximately $4,646,000. Finally, Maven Securities LTD increased its holdings in shares of Clearway Energy by 1,285.4% in the 3rd quarter. Maven Securities LTD now owns 144,082 shares of the company’s stock worth $4,070,000 after buying an additional 133,682 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CWEN. UBS Group set a $45.00 price objective on shares of Clearway Energy in a report on Tuesday, February 24th. Morgan Stanley increased their target price on Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Royal Bank Of Canada raised their price target on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Clearway Energy Trading Down 0.4%

CWEN stock opened at $37.28 on Friday. The company has a market capitalization of $7.65 billion, a PE ratio of 932.23 and a beta of 0.86. Clearway Energy, Inc. has a one year low of $27.67 and a one year high of $41.74. The company’s 50 day moving average price is $38.93 and its two-hundred day moving average price is $37.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The business had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. As a group, analysts predict that Clearway Energy, Inc. will post -0.87 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.4676 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, June 1st. Clearway Energy’s payout ratio is presently 4,675.00%.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.