Values First Advisors Inc. Makes New Investment in Clearway Energy, Inc. (NYSE:CWEN)

Values First Advisors Inc. acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 15,221 shares of the company’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Clearway Energy by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 54,140 shares of the company’s stock valued at $1,977,000 after buying an additional 606 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Clearway Energy in the first quarter valued at $256,000. Sei Investments Co. grew its stake in shares of Clearway Energy by 37.7% in the first quarter. Sei Investments Co. now owns 130,165 shares of the company’s stock valued at $4,752,000 after buying an additional 35,662 shares in the last quarter. Ergoteles LLC bought a new position in shares of Clearway Energy in the first quarter valued at $1,634,000. Finally, Bridgewater Associates LP grew its stake in shares of Clearway Energy by 145.6% in the first quarter. Bridgewater Associates LP now owns 81,066 shares of the company’s stock valued at $2,960,000 after buying an additional 48,052 shares in the last quarter. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Shares of Clearway Energy stock traded up $0.66 during trading on Thursday, reaching $23.05. The company’s stock had a trading volume of 1,245,032 shares, compared to its average volume of 913,697. The business’s 50-day moving average price is $22.89 and its 200-day moving average price is $23.54. The firm has a market cap of $4.66 billion, a PE ratio of 33.90 and a beta of 0.87. Clearway Energy, Inc. has a 52 week low of $18.59 and a 52 week high of $32.24. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The company had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. Clearway Energy’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities analysts forecast that Clearway Energy, Inc. will post 0.93 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date was Thursday, February 29th. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s payout ratio is 236.76%.

Analyst Ratings Changes

CWEN has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 27th. Morgan Stanley lifted their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Oppenheimer lifted their price objective on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Clearway Energy has an average rating of “Hold” and an average price target of $28.33.

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.