Abich Financial Wealth Management LLC Grows Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Abich Financial Wealth Management LLC grew its position in Clearway Energy, Inc. (NYSE:CWEN) by 49.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,879 shares of the company’s stock after purchasing an additional 625 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Clearway Energy were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWEN. Fulton Bank N.A. grew its holdings in Clearway Energy by 7.1% during the 1st quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock valued at $240,000 after buying an additional 688 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Clearway Energy in the 4th quarter valued at $25,000. Mather Group LLC. purchased a new stake in Clearway Energy in the 1st quarter worth $37,000. Silvercrest Asset Management Group LLC boosted its holdings in shares of Clearway Energy by 2.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 63,219 shares of the company’s stock valued at $1,457,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Clearway Energy during the fourth quarter valued at about $47,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Roth Mkm reissued a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research note on Friday. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Evercore ISI increased their price objective on shares of Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Finally, Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.17.

Clearway Energy Trading Down 1.0 %

NYSE:CWEN traded down $0.28 during mid-day trading on Friday, hitting $27.68. 916,356 shares of the stock traded hands, compared to its average volume of 762,041. The company has a quick ratio of 1.65, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a 52 week low of $18.59 and a 52 week high of $28.71. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 41.94 and a beta of 0.85. The firm’s 50 day moving average is $26.10 and its two-hundred day moving average is $24.47.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. During the same period in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts predict that Clearway Energy, Inc. will post 0.74 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.417 dividend. This represents a $1.67 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is currently 248.49%.

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.