Greenland Capital Management LP Buys Shares of 10,166 Clearway Energy, Inc. $CWEN

Greenland Capital Management LP purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,166 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also modified their holdings of CWEN. Hilltop National Bank bought a new position in Clearway Energy in the second quarter valued at approximately $35,000. Wealthspire Advisors LLC acquired a new position in shares of Clearway Energy in the 1st quarter valued at $206,000. Intrust Bank NA bought a new position in shares of Clearway Energy in the 1st quarter worth $250,000. Wealthquest Corp acquired a new stake in shares of Clearway Energy during the first quarter worth $274,000. Finally, Aigen Investment Management LP bought a new stake in Clearway Energy in the first quarter valued at about $276,000. 84.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CWEN shares. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Royal Bank Of Canada initiated coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price target for the company. Evercore ISI assumed 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. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. Finally, Roth Capital reaffirmed a “buy” rating and set a $39.00 price target (up previously from $38.00) on shares of Clearway Energy in a research report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.71.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $36.04 on Thursday. The firm has a market cap of $7.34 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.93. The business’s 50 day moving average is $31.54 and its 200-day moving average is $31.01. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $36.89.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was down 11.7% compared to the same quarter last year. Equities research analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed 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 of this dividend is Monday, December 1st. This represents a $1.81 annualized dividend and a yield of 5.0%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is presently 76.07%.

About Clearway Energy

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.