King Luther Capital Management Corp Buys Shares of 18,500 Clearway Energy, Inc. (NYSE:CWEN)

King Luther Capital Management Corp purchased a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,500 shares of the company's stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CWEN. Abich Financial Wealth Management LLC raised its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company's stock worth $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. raised its stake in Clearway Energy by 33.8% during 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 period. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the third quarter worth about $50,000. Quarry LP raised its stake in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company's stock worth $60,000 after purchasing an additional 843 shares during the period. Finally, nVerses Capital LLC raised 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 purchasing an additional 1,700 shares during the period. 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 commented on CWEN shares. Morgan Stanley raised shares of Clearway Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price target on the stock. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a "buy" rating and a $35.00 price target on the stock. Roth Mkm reissued a "buy" rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Finally, CIBC boosted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Clearway Energy has a consensus rating of "Moderate Buy" and a consensus target price of $33.13.

Clearway Energy Price Performance

NYSE CWEN remained flat at $28.35 on Friday. 510,606 shares of the company's stock traded hands, compared to its average volume of 1,066,646. 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. The firm has a market cap of $5.73 billion, a P/E ratio of 27.26, a PEG ratio of 2.51 and a beta of 0.87. The firm has a fifty day simple moving average of $28.21 and a 200-day simple moving average of $27.42.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm 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%. During the same quarter last year, the firm earned $0.03 EPS. The company's revenue was up 31.0% on a year-over-year basis. As a group, equities research analysts predict that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal 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 given a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.98%. Clearway Energy's dividend payout ratio (DPR) is 160.58%.

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.