ING Groep NV Invests $229,000 in Clearway Energy, Inc. (NYSE:CWEN)

ING Groep NV acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,450 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWEN. Tidal Investments LLC grew its position in shares of Clearway Energy by 74.5% during the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after buying an additional 22,059 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Clearway Energy in the 1st quarter valued at $1,010,000. Friedenthal Financial purchased a new position in shares of Clearway Energy during the second quarter worth about $712,000. Edgestream Partners L.P. purchased a new position in Clearway Energy during the 2nd quarter worth approximately $3,643,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Clearway Energy during the second quarter worth approximately $32,310,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CWEN shares. CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Thursday. BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Jefferies Financial Group started coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Stock Performance

NYSE:CWEN opened at $27.56 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.57 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.44 and a beta of 0.87. The firm’s 50 day moving average is $28.23 and its two-hundred day moving average is $27.30. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92.

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 analysts’ consensus estimates of $0.48 by ($0.17). The business 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%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. Analysts expect that Clearway Energy, Inc. will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.424 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.15%. Clearway Energy’s payout ratio is 162.50%.

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.