Plato Investment Management Ltd Invests $245,000 in Clearway Energy, Inc. (NYSE:CWEN)

Plato Investment Management Ltd purchased a new position in Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, HoldingsChannel reports. The fund purchased 7,978 shares of the company’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CWEN. Tidal Investments LLC raised its holdings in Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after acquiring an additional 22,059 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Clearway Energy in the first quarter valued at approximately $1,010,000. Friedenthal Financial purchased a new position in Clearway Energy during the second quarter worth approximately $712,000. Edgestream Partners L.P. acquired a new position in Clearway Energy during the second quarter worth $3,643,000. Finally, 1832 Asset Management L.P. acquired a new position in Clearway Energy during the second quarter worth $32,310,000. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, CIBC increased their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Up 0.7 %

NYSE:CWEN opened at $27.56 on Friday. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The stock’s fifty day moving average is $28.23 and its two-hundred day moving average is $27.24. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. Research analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.15%. Clearway Energy’s dividend payout ratio (DPR) is presently 160.58%.

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.