VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Clearway Energy, Inc. $CWEN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 2nd quarter, Holdings Channel.com reports. The firm bought 93,100 shares of the company’s stock, valued at approximately $3,182,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in shares of Clearway Energy by 26.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after acquiring an additional 981,488 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Clearway Energy by 3,220.4% in the second quarter. California State Teachers Retirement System now owns 4,631,971 shares of the company’s stock worth $158,321,000 after acquiring an additional 4,492,472 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after purchasing an additional 7,215 shares during the period. Wellington Management Group LLP purchased a new stake in Clearway Energy in the fourth quarter valued at approximately $21,906,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Clearway Energy by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock valued at $12,290,000 after purchasing an additional 5,142 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Down 1.5%

CWEN opened at $31.58 on Friday. The firm has a 50 day moving average price of $32.76 and a 200 day moving average price of $36.52. The company has a market cap of $6.48 billion, a PE ratio of 41.55 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $27.67 and a 1 year high of $41.74. 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 posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analyst estimates of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. Sell-side analysts expect that Clearway Energy, Inc. will post -0.5 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.0%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.47. Clearway Energy’s payout ratio is 250.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Truist Financial began coverage on shares of Clearway Energy in a report on Monday, July 13th. They issued a “buy” rating and a $43.00 price target on the stock. UBS Group boosted their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Canadian Imperial Bank of Commerce set a $42.00 price objective on Clearway Energy in a report on Friday, July 17th. Finally, Morgan Stanley cut their target price on Clearway Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $43.78.

About Clearway Energy

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.