23,000 Shares in Clearway Energy, Inc. $CWEN Purchased by New England Research & Management Inc.

New England Research & Management Inc. acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,000 shares of the company’s stock, valued at approximately $650,000.

Several other hedge funds have also recently added to or reduced their stakes in CWEN. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Clearway Energy in the first quarter valued at about $417,000. Monetary Management Group Inc. increased its stake in shares of Clearway Energy by 4.3% during the 1st quarter. Monetary Management Group Inc. now owns 14,400 shares of the company’s stock worth $436,000 after purchasing an additional 600 shares in the last quarter. RPG Investment Advisory LLC acquired a new position in shares of Clearway Energy during the 1st quarter worth approximately $321,000. Walleye Capital LLC raised its position in shares of Clearway Energy by 225.6% during the 1st quarter. Walleye Capital LLC now owns 31,318 shares of the company’s stock worth $948,000 after purchasing an additional 56,245 shares during the last quarter. Finally, Walleye Trading LLC lifted its stake in Clearway Energy by 259.1% in the 1st quarter. Walleye Trading LLC now owns 11,024 shares of the company’s stock valued at $334,000 after buying an additional 7,954 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on Clearway Energy in a research report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective for the company. Evercore ISI began coverage on shares of Clearway Energy in a report on Monday, October 6th. They issued an “in-line” rating and a $34.00 target price on the stock. CIBC raised their price target on shares of Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Roth Capital boosted their price objective on shares of Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.13.

Clearway Energy Trading Up 1.0%

CWEN stock opened at $32.73 on Tuesday. Clearway Energy, Inc. has a 52 week low of $24.40 and a 52 week high of $36.89. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.37 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $33.60 and a 200-day simple moving average of $31.64.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. The firm had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.4528 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.5%. Clearway Energy’s dividend payout ratio is currently 77.35%.

Clearway Energy Profile

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.