93,100 Shares in Clearway Energy, Inc. $CWEN Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clearway Energy, Inc. (NYSE:CWENFree Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 93,100 shares of the company’s stock, valued at approximately $3,182,000.

Several other large investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Clearway Energy by 3,220.4% in the second quarter. California State Teachers Retirement System now owns 4,631,971 shares of the company’s stock valued at $158,321,000 after buying an additional 4,492,472 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Clearway Energy in the 2nd quarter worth about $250,000. HB Wealth Management LLC boosted its position in shares of Clearway Energy by 79.5% in the 2nd quarter. HB Wealth Management LLC now owns 9,294 shares of the company’s stock worth $318,000 after buying an additional 4,115 shares in the last quarter. Nykredit A S acquired a new stake in Clearway Energy in the 2nd quarter valued at about $252,000. Finally, Proficio Capital Partners LLC acquired a new stake in Clearway Energy in the 2nd quarter valued at about $210,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN opened at $31.58 on Friday. Clearway Energy, Inc. has a 12-month low of $27.67 and a 12-month high of $41.74. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 41.55 and a beta of 0.87. The company’s 50-day moving average is $32.76 and its two-hundred day moving average is $36.52. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWENGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. Research analysts expect that Clearway Energy, Inc. will post -0.5 EPS for the current year.

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 given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 6.0%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. Clearway Energy’s dividend payout ratio (DPR) is 250.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Truist Financial assumed coverage on shares of Clearway Energy in a research note on Monday, July 13th. They set a “buy” rating and a $43.00 price objective for the company. Morgan Stanley cut their price objective on Clearway Energy from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, August 18th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a research note on Friday, July 17th. Finally, Zacks Research upgraded 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 given 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 “Buy” and an average price target of $43.78.

Get Our Latest Report on Clearway Energy

Clearway Energy Company Profile

(Free Report)

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.

Further Reading

Institutional Ownership by Quarter for Clearway Energy (NYSE:CWEN)

Receive News & Ratings for Clearway Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearway Energy and related companies with MarketBeat.com's FREE daily email newsletter.