19,500 Shares in Clearway Energy, Inc. $CWEN Purchased by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. purchased a new position in Clearway Energy, Inc. (NYSE:CWEN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,500 shares of the company’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CWEN. Wealth Enhancement Advisory Services LLC purchased a new position in Clearway Energy in the first quarter worth about $280,000. Alpine Bank Wealth Management purchased a new position in Clearway Energy in the first quarter worth about $27,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Clearway Energy by 4.8% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company’s stock worth $15,801,000 after acquiring an additional 24,000 shares in the last quarter. Tsfg LLC bought a new stake in Clearway Energy in the first quarter worth about $61,000. Finally, Summit Trail Advisors LLC bought a new stake in Clearway Energy in the first quarter worth about $218,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore ISI assumed coverage on shares of Clearway Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $34.00 price objective for the company. CIBC raised their price objective on shares of Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada assumed coverage on shares of Clearway Energy in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. Finally, Roth Capital reissued a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research note on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Clearway Energy Stock Performance

Clearway Energy stock opened at $31.51 on Friday. The company has a 50 day moving average price of $29.76 and a 200-day moving average price of $30.24. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The company has a market capitalization of $6.37 billion, a PE ratio of 48.48, a P/E/G ratio of 1.21 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.39). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company had revenue of $392.00 million for the quarter, compared to the consensus estimate of $428.33 million. During the same period in the prior year, the firm posted $0.43 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.4456 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, September 2nd. Clearway Energy’s payout ratio is presently 273.85%.

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.