Public Employees Retirement System of Ohio bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,960 shares of the company’s stock, valued at approximately $1,229,000.
A number of other large investors have also recently made changes to their positions in CWEN. Huntington National Bank raised its holdings in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after buying an additional 705 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the period. Allied Private Wealth LLC purchased a new position in shares of Clearway Energy in the 2nd quarter worth $35,000. Finally, Headlands Technologies LLC purchased a new position in shares of Clearway Energy in the 2nd quarter worth $43,000. 84.53% of the stock is currently owned by institutional investors.
Clearway Energy Price Performance
Shares of NYSE:CWEN opened at $33.19 on Wednesday. The company has a market capitalization of $6.81 billion, a P/E ratio of 43.67 and a beta of 0.87. Clearway Energy, Inc. has a 1-year low of $27.67 and a 1-year high of $41.74. The firm’s 50 day simple moving average is $32.82 and its two-hundred day simple moving average is $36.63. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.
Clearway Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.90 annualized dividend and a yield of 5.7%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. Clearway Energy’s payout ratio is currently 250.00%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a report on Friday, July 17th. Weiss Ratings raised shares of Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Morgan Stanley lowered their target price on Clearway Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Finally, Zacks Research raised Clearway Energy from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $43.78.
Check Out Our Latest Analysis on Clearway Energy
About Clearway Energy
Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.
Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.
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