Abundance Wealth Counselors Acquires 624 Shares of Clearway Energy, Inc. $CWEN

Abundance Wealth Counselors lifted its position in Clearway Energy, Inc. (NYSE:CWEN) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,158 shares of the company’s stock after buying an additional 624 shares during the quarter. Abundance Wealth Counselors’ holdings in Clearway Energy were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in shares of Clearway Energy in the first quarter worth $27,000. Hilltop National Bank acquired a new stake in shares of Clearway Energy in the second quarter worth $35,000. Tsfg LLC acquired a new stake in shares of Clearway Energy in the first quarter worth $61,000. NBT Bank N A NY acquired a new stake in shares of Clearway Energy in the first quarter worth $71,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Clearway Energy by 48.8% in the first quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock worth $89,000 after buying an additional 966 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CWEN. Wall Street Zen cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Jefferies Financial Group boosted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Cibc World Mkts cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Finally, CIBC cut shares of Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Saturday, July 19th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Clearway Energy Price Performance

NYSE:CWEN opened at $30.00 on Friday. The stock has a market cap of $6.06 billion, a P/E ratio of 46.15, a PEG ratio of 1.32 and a beta of 0.89. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $33.22. The company has a fifty day moving average price of $29.60 and a 200 day moving average price of $30.07. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.34.

Clearway Energy (NYSE:CWEN) last released its earnings results on Tuesday, August 5th. The company reported $0.28 EPS 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 analyst estimates of $428.33 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. Clearway Energy’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate 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. Stockholders of record on Tuesday, September 2nd were paid a $0.4456 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.44. Clearway Energy’s dividend payout ratio is currently 273.85%.

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.