Quarry LP Acquires 1,783 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Quarry LP lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 48.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,454 shares of the company’s stock after purchasing an additional 1,783 shares during the quarter. Quarry LP’s holdings in Clearway Energy were worth $142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Clearway Energy by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock valued at $236,000 after buying an additional 414 shares in the last quarter. Uniplan Investment Counsel Inc. increased its holdings in shares of Clearway Energy by 0.9% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company’s stock valued at $1,703,000 after acquiring an additional 586 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Clearway Energy by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after acquiring an additional 787 shares in the last quarter. Quad Cities Investment Group LLC lifted its holdings in Clearway Energy by 7.6% in the 4th quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock worth $328,000 after purchasing an additional 886 shares during the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in Clearway Energy during the fourth quarter worth approximately $28,000. Institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CWEN shares. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.71.

Clearway Energy Stock Performance

CWEN opened at $29.45 on Tuesday. The stock’s 50 day simple moving average is $28.63 and its 200-day simple moving average is $27.49. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.95 billion, a PE ratio of 28.32, a P/E/G ratio of 1.75 and a beta of 0.85. Clearway Energy, Inc. has a 1 year low of $22.75 and a 1 year high of $31.09.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.4312 dividend. This represents a $1.72 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is 229.33%.

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.