Pacer Advisors Inc. Buys 140,006 Shares of Clearway Energy, Inc. $CWEN

Pacer Advisors Inc. boosted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 20.1% in the 4th quarter, HoldingsChannel reports. The fund owned 837,006 shares of the company’s stock after buying an additional 140,006 shares during the quarter. Pacer Advisors Inc.’s holdings in Clearway Energy were worth $27,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CWEN. Lazard Freres Gestion S.A.S. increased its stake in Clearway Energy by 1.4% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock worth $657,000 after purchasing an additional 270 shares during the period. Ballentine Partners LLC boosted its stake in shares of Clearway Energy by 2.0% during the fourth quarter. Ballentine Partners LLC now owns 17,096 shares of the company’s stock valued at $569,000 after purchasing an additional 333 shares during the period. Courier Capital LLC boosted its stake in shares of Clearway Energy by 1.2% during the fourth quarter. Courier Capital LLC now owns 33,193 shares of the company’s stock valued at $1,104,000 after purchasing an additional 385 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Clearway Energy by 1.4% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company’s stock worth $948,000 after purchasing an additional 400 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 412 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $37.28 on Friday. Clearway Energy, Inc. has a 1 year low of $27.67 and a 1 year high of $41.74. The stock has a market capitalization of $7.65 billion, a P/E ratio of 932.23 and a beta of 0.86. The company’s 50-day moving average is $38.93 and its 200 day moving average is $37.36. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The company had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, sell-side analysts expect that Clearway Energy, Inc. will post -0.87 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.4676 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 annualized dividend and a dividend yield of 5.0%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s dividend payout ratio is currently 4,675.00%.

Analyst Upgrades and Downgrades

CWEN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a report on Thursday, April 9th. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Morgan Stanley upped their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $43.00.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.