Intrust Bank NA Buys 3,131 Shares of Clearway Energy, Inc. $CWEN

Intrust Bank NA increased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,402 shares of the company’s stock after purchasing an additional 3,131 shares during the quarter. Intrust Bank NA’s holdings in Clearway Energy were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Clearway Energy by 56.4% in the 1st quarter. Victory Capital Management Inc. now owns 274,078 shares of the company’s stock valued at $8,296,000 after acquiring an additional 98,876 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Clearway Energy in the first quarter valued at about $569,000. Pacer Advisors Inc. boosted its stake 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 in the last quarter. Wealthquest Corp bought a new stake in shares of Clearway Energy during the first quarter worth about $274,000. Finally, Castellan Group increased its stake in shares of Clearway Energy by 0.8% in the first quarter. Castellan Group now owns 118,401 shares of the company’s stock valued at $3,584,000 after buying an additional 992 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CWEN shares. Jefferies Financial Group boosted their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th. Evercore ISI assumed coverage on Clearway Energy in a research report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on Clearway Energy in a research report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective for the company. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.71.

Clearway Energy Price Performance

CWEN stock opened at $36.22 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 0.86 and a beta of 0.93. The company’s fifty day simple moving average is $31.39 and its 200 day simple moving average is $30.97. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $36.68.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.68. The firm had revenue of $429.00 million during the quarter, compared to analyst estimates of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. On average, analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.4528 dividend. The ex-dividend date is Monday, December 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 5.0%. Clearway Energy’s dividend payout ratio is presently 76.07%.

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.