Northwest & Ethical Investments L.P. Purchases 14,296 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Northwest & Ethical Investments L.P. grew its position in Clearway Energy, Inc. (NYSE:CWEN) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 579,804 shares of the company’s stock after buying an additional 14,296 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Clearway Energy were worth $15,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CWEN. Oppenheimer & Co. Inc. raised its position in shares of Clearway Energy by 13.3% in the third quarter. Oppenheimer & Co. Inc. now owns 10,722 shares of the company’s stock valued at $329,000 after purchasing an additional 1,260 shares during the period. Meeder Asset Management Inc. increased its position in Clearway Energy by 23.7% during the third quarter. Meeder Asset Management Inc. now owns 42,577 shares of the company’s stock worth $1,306,000 after acquiring an additional 8,163 shares during the period. King Luther Capital Management Corp bought a new position in Clearway Energy during the third quarter worth $568,000. Icon Wealth Advisors LLC bought a new position in Clearway Energy during the third quarter worth $288,000. Finally, Cerity Partners LLC increased its position in Clearway Energy by 46.7% during the third quarter. Cerity Partners LLC now owns 18,102 shares of the company’s stock worth $555,000 after acquiring an additional 5,764 shares during the period. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Down 0.4 %

CWEN opened at $29.68 on Thursday. Clearway Energy, Inc. has a fifty-two week low of $20.87 and a fifty-two week high of $30.92. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm’s fifty day moving average price is $26.75 and its two-hundred day moving average price is $27.49. The company has a market capitalization of $6.00 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.91.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. On average, analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.4312 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.81%. The ex-dividend date was Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 229.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CWEN shares. Roth Mkm reaffirmed a “buy” rating and set a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.17.

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.