First Citizens Bank & Trust Co. Makes New Investment in Clearway Energy, Inc. $CWEN

First Citizens Bank & Trust Co. acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,746 shares of the company’s stock, valued at approximately $440,000.

Other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in Clearway Energy during the 2nd quarter worth about $35,000. Tsfg LLC acquired a new stake in Clearway Energy during the 1st quarter worth about $61,000. SBI Securities Co. Ltd. boosted its position in Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock worth $89,000 after acquiring an additional 966 shares during the period. Wealthspire Advisors LLC acquired a new stake in Clearway Energy during the 1st quarter worth about $206,000. Finally, Summit Trail Advisors LLC acquired a new stake in Clearway Energy during the 1st quarter worth about $218,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Up 1.4%

Shares of CWEN stock opened at $31.96 on Friday. The stock’s 50 day simple moving average is $29.81 and its 200 day simple moving average is $30.30. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 1.26 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $428.33 million. During the same period in the previous year, the business posted $0.43 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that Clearway Energy, Inc. will post 0.83 EPS 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 given a $0.4456 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Clearway Energy’s dividend payout ratio (DPR) is currently 273.85%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CWEN. Cibc World Mkts lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 21st. Evercore ISI began coverage on Clearway Energy in a research report on Monday, October 6th. They set an “in-line” rating and a $34.00 price objective for the company. Royal Bank Of Canada began coverage on Clearway Energy in a report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a report on Friday. Finally, Roth Capital reiterated a “buy” rating and set a $38.00 price target on shares of Clearway Energy in a report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Clearway Energy Company 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.