Values First Advisors Inc. Acquires New Position in Clearway Energy, Inc. (NYSE:CWEN)

Values First Advisors Inc. acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,221 shares of the company’s stock, valued at approximately $418,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Clearway Energy during the third quarter valued at approximately $42,000. Spirit of America Management Corp NY raised its stake in Clearway Energy by 23.3% during the third quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after purchasing an additional 1,000 shares during the period. Macquarie Group Ltd. raised its stake in Clearway Energy by 31.0% during the second quarter. Macquarie Group Ltd. now owns 3,272 shares of the company’s stock worth $114,000 after purchasing an additional 775 shares during the period. Impact Partnership Wealth LLC purchased a new position in Clearway Energy during the third quarter worth approximately $153,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in Clearway Energy during the fourth quarter worth approximately $175,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CWEN shares. Oppenheimer increased their price target on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Royal Bank of Canada cut their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Morgan Stanley raised their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy presently has a consensus rating of “Hold” and an average price target of $28.33.

Clearway Energy Stock Up 2.9 %

CWEN traded up $0.66 during trading hours on Thursday, reaching $23.05. 1,245,032 shares of the stock traded hands, compared to its average volume of 913,697. The firm’s fifty day simple moving average is $22.89 and its two-hundred day simple moving average is $23.54. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 33.90 and a beta of 0.87. Clearway Energy, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $32.24. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.72 and a quick ratio of 1.66.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The business had revenue of $249.00 million during the quarter, compared to analyst estimates of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The business’s revenue was down 18.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, analysts forecast that Clearway Energy, Inc. will post 0.93 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.403 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio (DPR) is currently 236.76%.

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.