Entropy Technologies LP Purchases New Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Entropy Technologies LP purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,433 shares of the company's stock, valued at approximately $1,026,000.

Several other institutional investors also recently added to or reduced their stakes in CWEN. Abich Financial Wealth Management LLC boosted its stake in shares of Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company's stock valued at $43,000 after purchasing an additional 625 shares in the last quarter. Whittier Trust Co. grew its stake in shares of Clearway Energy by 33.8% during 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. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the third quarter valued at approximately $50,000. Quarry LP increased its holdings in 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. Finally, nVerses Capital LLC increased its stake in Clearway Energy by 34.0% during the third quarter. nVerses Capital LLC now owns 6,700 shares of the company's stock worth $206,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors own 38.03% of the company's stock.

Clearway Energy Stock Up 1.6 %

Shares of NYSE CWEN traded up $0.42 during mid-day trading on Thursday, reaching $27.37. 708,360 shares of the company's stock were exchanged, compared to its average volume of 873,337. The business has a fifty day simple moving average of $28.23 and a 200 day simple moving average of $27.21. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.36 and a beta of 0.87. 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 twelve month low of $20.63 and a twelve month high of $30.92.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the company earned $0.03 earnings per share. Clearway Energy's revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, equities analysts expect that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.20%. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy's dividend payout ratio (DPR) is 162.50%.

Analyst Upgrades and Downgrades

CWEN has been the subject of several research reports. StockNews.com cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Thursday. BNP Paribas assumed coverage on Clearway Energy in a research note on Tuesday, October 1st. They set an "outperform" rating and a $36.00 target price on the stock. Morgan Stanley raised shares of Clearway Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. CIBC lifted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They set a "buy" rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.