Entropy Technologies LP Acquires Shares of 33,433 Clearway Energy, Inc. (NYSE:CWEN)

Entropy Technologies LP acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) 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 33,433 shares of the company's stock, valued at approximately $1,026,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Tidal Investments LLC lifted its stake in Clearway Energy by 74.5% during 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 period. Sei Investments Co. bought a new stake in shares of Clearway Energy during the 1st quarter valued at $1,010,000. Friedenthal Financial bought a new position in Clearway Energy in the 2nd quarter worth $712,000. Edgestream Partners L.P. bought a new stake in Clearway Energy during the second quarter valued at about $3,643,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Clearway Energy in the second quarter worth about $32,310,000. 38.03% of the stock is owned by institutional investors.

Clearway Energy Stock Performance

Clearway Energy stock traded up $0.42 during mid-day trading on Thursday, hitting $27.37. The company had a trading volume of 708,360 shares, compared to its average volume of 873,337. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.36 and a beta of 0.87. The company's fifty day moving average is $28.23 and its 200-day moving average is $27.21. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share 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 business's revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts predict that Clearway Energy, Inc. will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced 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 6.20%. The ex-dividend date is Monday, December 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's dividend payout ratio (DPR) is 162.50%.

Analysts Set New Price Targets

CWEN has been the subject of a number of analyst reports. BNP Paribas started coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price target for the company. Roth Mkm restated a "buy" rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They issued a "buy" rating and a $35.00 price target for the company. StockNews.com lowered Clearway Energy from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Morgan Stanley upgraded shares of Clearway Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the company 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.13.

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.