32,029 Clearway Energy, Inc. $CWEN Shares Bought by Courier Capital LLC

Courier Capital LLC increased its position in Clearway Energy, Inc. (NYSE:CWEN) by 97.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,886 shares of the company’s stock after acquiring an additional 32,029 shares during the period. Courier Capital LLC’s holdings in Clearway Energy were worth $1,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Clearway Energy by 4.8% in the third quarter. Farther Finance Advisors LLC now owns 8,910 shares of the company’s stock worth $261,000 after purchasing an additional 412 shares during the last quarter. CX Institutional bought a new stake in Clearway Energy in the 3rd quarter worth about $105,000. Sequoia Financial Advisors LLC increased its holdings in Clearway Energy by 42.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,644 shares of the company’s stock worth $295,000 after buying an additional 2,571 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Clearway Energy in the 2nd quarter worth about $83,000. Finally, Maven Securities LTD purchased a new position in Clearway Energy in the 2nd quarter worth about $667,000. 84.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CWEN shares. Truist Financial lowered their target price on shares of Clearway Energy from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Jefferies Financial Group reissued a “buy” rating and set a $38.00 price objective on shares of Clearway Energy in a report on Friday, September 4th. UBS Group increased their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Seaport Research Partners dropped their target price on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.44.

Clearway Energy Stock Performance

Clearway Energy stock traded up $0.01 during mid-day trading on Tuesday, reaching $30.45. 949,242 shares of the stock traded hands, compared to its average volume of 1,147,559. Clearway Energy, Inc. has a 12-month low of $28.57 and a 12-month high of $41.74. The business’s 50-day moving average is $31.48 and its 200-day moving average is $35.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The stock has a market capitalization of $6.25 billion, a PE ratio of 40.07 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, sell-side analysts predict that Clearway Energy, Inc. will post -0.37 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.4750 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.4676. This represents a $1.90 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 1st. Clearway Energy’s dividend payout ratio is currently 250.00%.

About Clearway Energy

Clearway Energy, Inc (NYSE:CWEN) is an independent power generation company that owns and operates a portfolio of renewable and conventional energy assets in the United States. The company’s operations are focused primarily on contracted electricity generation, with power and renewable energy sold under long-term agreements to utilities, commercial and industrial customers, and other counterparties.

Clearway’s renewable portfolio includes wind and solar generation facilities, while its conventional assets include natural gas-fired power plants and district energy systems.