Icon Wealth Advisors LLC Purchases Shares of 3,454 Clearway Energy, Inc. (NYSE:CWEN)

Icon Wealth Advisors LLC purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,454 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds have also recently made changes to their positions in CWEN. Whittier Trust Co. lifted its stake in Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Clearway Energy in the third quarter worth about $50,000. Quarry LP lifted its stake 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 during the last quarter. nVerses Capital LLC boosted its holdings in Clearway Energy by 34.0% during 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 during the period. Finally, Spirit of America Management Corp NY boosted its holdings in Clearway Energy by 17.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 6,800 shares of the company’s stock valued at $209,000 after acquiring an additional 1,000 shares during the period. 38.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CWEN. Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. BNP Paribas initiated coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price on the stock. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $29.49 on Monday. 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, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The company’s 50-day moving average is $28.21 and its 200 day moving average is $27.50. The stock has a market capitalization of $5.96 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.41 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last announced 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts expect that Clearway Energy, Inc. will post 0.78 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is 160.58%.

Clearway Energy Company 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.