Quarry LP Buys 1,249 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Quarry LP boosted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 51.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,671 shares of the company’s stock after buying an additional 1,249 shares during the period. Quarry LP’s holdings in Clearway Energy were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Hancock Whitney Corp acquired a new position in Clearway Energy during the 3rd quarter valued at about $1,486,000. Friedenthal Financial acquired a new position in Clearway Energy during the 2nd quarter valued at about $712,000. Edgestream Partners L.P. acquired a new position in Clearway Energy during the 2nd quarter valued at about $3,643,000. 1832 Asset Management L.P. acquired a new position in Clearway Energy during the 2nd quarter valued at about $32,310,000. Finally, Entropy Technologies LP acquired a new position in Clearway Energy during the 3rd quarter valued at about $1,026,000. 38.03% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Down 1.3 %

Clearway Energy stock opened at $28.24 on Friday. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a market cap of $5.71 billion, a PE ratio of 27.15, a PEG ratio of 1.29 and a beta of 0.86. The business’s 50-day simple moving average is $28.05 and its two-hundred day simple moving average is $27.55.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy, Inc. will post 0.82 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.01%. Clearway Energy’s dividend payout ratio is presently 163.46%.

Wall Street Analysts Forecast Growth

CWEN has been the topic of several recent analyst reports. CIBC upped their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. BNP Paribas started coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, Jefferies Financial Group started coverage on Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.13.

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.