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

Plato Investment Management Ltd acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,978 shares of the company’s stock, valued at approximately $245,000.

Other large investors have also recently made changes to their positions in the company. Apollo Management Holdings L.P. raised its position in Clearway Energy by 38.4% during the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock worth $37,924,000 after buying an additional 456,197 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Clearway Energy during the second quarter worth $32,310,000. Point72 Asset Management L.P. lifted its position in Clearway Energy by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after purchasing an additional 384,837 shares during the period. abrdn plc lifted its position in Clearway Energy by 8.7% during the third quarter. abrdn plc now owns 461,200 shares of the company’s stock valued at $14,150,000 after purchasing an additional 37,100 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares during the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group started coverage on Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. CIBC upped 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. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Trading Up 0.7 %

Shares of NYSE:CWEN opened at $27.56 on Friday. The business’s 50 day moving average price is $28.23 and its 200-day moving average price is $27.24. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The firm 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 debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data 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 company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts forecast that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.424 dividend. This represents a $1.70 annualized dividend and a yield of 6.15%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s payout ratio 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.