First Citizens Bank & Trust Co. Takes $440,000 Position in Clearway Energy, Inc. $CWEN

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

A number of other large investors also recently modified their holdings of CWEN. Gotham Asset Management LLC increased its holdings in shares of Clearway Energy by 79.1% during the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock valued at $24,665,000 after purchasing an additional 359,876 shares during the period. Northside Capital Management LLC acquired a new position in shares of Clearway Energy during the second quarter valued at $8,847,000. Nordea Investment Management AB increased its holdings in shares of Clearway Energy by 325.3% during the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after purchasing an additional 187,861 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Clearway Energy by 135.8% during the first quarter. Pacer Advisors Inc. now owns 273,219 shares of the company’s stock valued at $8,270,000 after purchasing an additional 157,331 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Clearway Energy by 56.4% during the first quarter. Victory Capital Management Inc. now owns 274,078 shares of the company’s stock valued at $8,296,000 after purchasing an additional 98,876 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Trading Up 1.4%

NYSE:CWEN opened at $31.96 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.22. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 49.17, a price-to-earnings-growth ratio of 1.26 and a beta of 0.89. The stock has a fifty day simple moving average of $29.81 and a 200 day simple moving average of $30.30.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results 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 analyst estimates of $428.33 million. During the same quarter last year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors 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. The ex-dividend date was Tuesday, September 2nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.6%. Clearway Energy’s dividend payout ratio is 273.85%.

Analyst Ratings Changes

CWEN has been the topic of a number of research analyst reports. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Evercore ISI started coverage on Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 target price on the stock. Jefferies Financial Group lifted their target price on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. CIBC lifted their target price on Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Finally, Roth Capital reaffirmed a “buy” rating and set a $38.00 target price on shares of Clearway Energy in a report on Monday, October 6th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.57.

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.