Clearway Energy, Inc. $CWEN Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 115,483 shares of the company’s stock, valued at approximately $3,380,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Squarepoint Ops LLC increased its stake in Clearway Energy by 276.7% in the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock valued at $7,087,000 after purchasing an additional 152,292 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Clearway Energy in the second quarter valued at $3,182,000. Tectonic Advisors LLC grew its holdings in Clearway Energy by 12.8% in the third quarter. Tectonic Advisors LLC now owns 567,137 shares of the company’s stock valued at $16,600,000 after purchasing an additional 64,439 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Clearway Energy by 31.3% in the first quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after buying an additional 58,138 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Clearway Energy in the first quarter valued at $1,427,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Down 0.6%

Shares of NYSE:CWEN traded down $0.20 during trading on Friday, reaching $34.08. The stock had a trading volume of 1,913,716 shares, compared to its average volume of 1,277,690. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. The stock has a market cap of $7.00 billion, a P/E ratio of 44.84 and a beta of 0.81. The business has a fifty day moving average price of $31.12 and a 200-day moving average price of $35.54. Clearway Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $41.74.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.24 by $0.76. The firm had revenue of $481.00 million during the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, analysts anticipate that Clearway Energy, Inc. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CWEN has been the topic of several recent research reports. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Evercore restated a “positive” rating and set a $40.00 target price on shares of Clearway Energy in a research report on Monday, August 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $38.00 price target on shares of Clearway Energy in a report on Friday, September 4th. Zacks Research upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Finally, Morgan Stanley dropped their price objective on shares of Clearway Energy from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Clearway Energy has an average rating of “Buy” and an average target price of $42.00.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.