Spirit of America Management Corp NY Has $209,000 Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Spirit of America Management Corp NY increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,800 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Clearway Energy were worth $209,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its stake in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. raised its stake in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the period. Quarry LP grew its holdings in shares of Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after acquiring an additional 1,700 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Clearway Energy in the 1st quarter valued at about $228,000. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Trading Down 2.9 %

NYSE:CWEN opened at $26.20 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The firm has a 50-day moving average price of $28.64 and a two-hundred day moving average price of $26.77.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. On average, equities analysts expect that Clearway Energy, Inc. will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 219.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CWEN. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

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.