Edgestream Partners L.P. Buys Shares of 147,549 Clearway Energy, Inc. (NYSE:CWEN)

Edgestream Partners L.P. acquired a new position in Clearway Energy, Inc. (NYSE:CWEN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 147,549 shares of the company’s stock, valued at approximately $3,643,000. Edgestream Partners L.P. owned about 0.07% of Clearway Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ING Groep NV purchased a new position in shares of Clearway Energy in the 4th quarter worth approximately $850,000. Tidal Investments LLC grew its position in Clearway Energy by 74.5% during the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after purchasing an additional 22,059 shares during the last quarter. Sei Investments Co. purchased a new stake in Clearway Energy during the 1st quarter worth approximately $1,010,000. Qsemble Capital Management LP purchased a new stake in Clearway Energy during the 1st quarter worth approximately $516,000. Finally, Friedenthal Financial purchased a new stake in Clearway Energy during the 2nd quarter worth approximately $712,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $29.35 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a 12 month low of $18.59 and a 12 month high of $29.87. The company has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $25.53. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, analysts predict that Clearway Energy, Inc. will post 0.9 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a $0.417 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 251.52%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CWEN shares. Morgan Stanley raised 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 research report on Wednesday, July 31st. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Roth Mkm reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.17.

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.